ORDERS:
ORDER AND DECISION
This matter comes before me pursuant to S.C. Code Ann. § 38-73-10, et seq. (Supp. 1994) and
S.C. Code Ann. § 1-23-310, et seq. (Supp. 1994) upon a request for a commercial automobile
property and casualty insurance premium rate change. A hearing was held on May 26, 1995. The
request was not contested by the Department of Insurance or any member of the public. Upon
review of the testimony and evidence submitted, the rate request is approved.
FINDINGS OF FACT
By a preponderance of the evidence, I find:
1. On February 15, 1995, Petitioner submitted to the South Carolina Department of Insurance a
formal filing for a commercial automobile property and casualty insurance premium rate change,
having an overall premium decrease impact of 5.0%, while increasing the premium of certain
insureds.
2. The public was advised that an application for a rate increase by Petitioner had been made and
that a hearing would be held on May 26, 1995.
3. The last insurance premium rate increase received by Federated Mutual Insurance Company for
its commercial automobile property and casualty insurance premium rate was on December 1,
1993.
4. The Department of Insurance conducted an independent investigation of the filing.
5. The Department of Insurance, through its Chief Casualty Actuary, Martin M. Simons, testifying
as an expert witness, represented that the rate change request will produce rates that are not
excessive, inadequate, or unfairly discriminatory.
6. The rate change request was not contested by the State Consumer Advocate or any member of
the public.
CONCLUSIONS OF LAW
Based upon the foregoing Findings of Fact, I conclude as a matter of law, the following:
1. The South Carolina Administrative Law Judge Division is empowered to hear this case
pursuant to S.C. Code Ann. § 38-73-910 (Supp. 1994) and Chapter 23 of Title I of the 1976
Code, as amended.
2. Generally a request for an insurance rate change is governed by S.C. Code Ann. § 38-73-10, et
seq. (Supp. 1994).
3. Pursuant to S.C. Code Ann. § 38-73-910 (Supp. 1994), notice of the filing and of the public
hearing was given in all newspapers of statewide circulation at least thirty (30) days in advance of
the hearing.
4. Petitioner established by the preponderance of the evidence that its requested rate change
would not be excessive, inadequate, or unfairly discriminatory. See S.C. Code Ann. §
38-73-10(a)(1) (Supp. 1994).
IT IS THEREFORE ORDERED that the insurance premium rate change requested by
Petitioner is approved and shall be effective immediately.
AND IT IS SO ORDERED.
______________________________
JOHN D. GEATHERS
Administrative Law Judge
Edgar A. Brown Building
1205 Pendleton Street
Columbia, South Carolina 29201
This ____ day____ 1995
Columbia, South Carolina |
