Effects of Implementing State Insurance Market Reform, 2011-2012. Adjustments to Filings with Greater Than Annual Increase Periods


For filings where the period between the effective date of the approved premium increase and the effective date of the last approved premium increase was greater than one year, adjustments were made to the increase such that they represented an annual period of increase, using exponentiation to account for compounding effects. For example if an insurer requested a 30% increase after three years of stable rates, this rate would be adjusted down to 9.1% for the year, which is 1.30 raised to the 1/3 power minus one.

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