HARRY HUGHES, Governor                               2409

(c)  If a creditor requires a debtor to make any
payment for credit life insurance, [or] credit health
insurance, OR INVOLUNTARY UNEMPLOYMENT BENEFIT INSURANCE and
an individual policy or group certificate of insurance is
not issued, the creditor shall immediately give written
notice to the debtor and shall promptly make an appropriate
credit to the account.

(d)  The amount charged to a debtor for any credit
life, [or] credit health insurance OR INVOLUNTARY
UNEMPLOYMENT BENEFIT INSURANCE shall not exceed the
aggregate of the premiums to be charged by the insurer, as
computed at the time the charge to the debtor is determined.

(f) (1) Premium rates provided by policies of credit
insurance are presumed to be reasonable in relation to
benefits if they are in accordance with Section 436H(b).

(2)  Within 120 days after the expiration of the
experience period for any case established pursuant to
Section 436C(8), the insurer shall file with the
Commissioner an appropriate experience report signed by its
actuary which certifies the loss ratio for the case. If the
loss ratio certified for the case satisfies the loss ratio
promulgated by the Commissioner, the insurer may continue to
charge the existing premium rates.

(3)  If the loss ratio for any case is less than
the loss ratio guideline, the insurer shall make appropriate
rate reductions, which shall be effective on or before 45
days after the experience report has been filed, or show
cause to the Commissioner why its rates for the case should
not be reduced. If the loss ratio for any case is less than
that required above and the insurer refuses to reduce its
rates, the Commissioner, after notice and hearing and within
60 days after the filing of the experience report, shall
notify the insurer in writing as to the rates which are
authorized for use with the case. These rates shall be
implemented by the insurer no later than 45 days after
receipt of the Commissioner's notice.

(4)  For new cases or cases which do not satisfy
the experience period requirement contained in Section
436C(9), and for business which does not meet the definition
of a case by reason of being less than the $50,000 minimum
threshold, the Commissioner, on a biennial basis and after
notice and hearing, shall promulgate prima faci acceptable
rates applicable to specified plans of benefits for each
class of business. Prima facie rates shall be based upon
experience for each class of business reported by all
insurers writing credit life, [and] credit health, AND
INVOLUNTARY UNEMPLOYMENT BENEFIT insurance in this State
excluding experience for which premium rates are established
by case. The promulgation of prima facie rates by the
Commissioner may not be construed to prohibit the filing of
other premium rates for use with new cases in accordance
with the provisions of Section 436H(b).