ORDERS:
CONSENT ORDER AND ORDER OF DISMISSAL
1.On July 30, 2003, Elliott F. Elam, Jr., Acting Consumer Advocate for the
State of South Carolina (the Consumer Advocate) requested the South Carolina Department
of Insurance (the Department) to initiate a public hearing on the filing of Nationwide Mutual
Fire Insurance Company (the Company) requesting an approval of an overall increase of
+10.00% in its homeowners, mobile homeowners, condominium and tenants insurance rates.
2.On August 6, 2003, the Department filed with the Administrative Law Judge
Division an Agency Transmittal Form requesting a public hearing.
3.The Administrative Law Judge Division assigned this matter to the Honorable
Ray N. Stevens under the Docket No. 03-ALJ-09-0324-CC. A hearing on the matter has
been set for November 17, 2003.
4.The Consumer Advocate retained a consulting actuary and requested
additional information from the Company, primarily regarding the Company’s use of models
in producing hurricane loss costs. Meanwhile, the Consumer Advocate raised certain issues
related to the appropriate use of hurricane models in Docket No. 03-ALJ-09-0210-CC. As
a result of the October 13, 2003 settlement reached in that Docket by the Consumer
Advocate, the Department of Insurance and the petitioner insurer, the Consumer Advocate
may file a petition requesting a proceeding before the Administrative Law Judge Division
addressing the issue of hurricane modeling and the standards that are or should be employed
in approving and using hurricane models in rate filings.
5.Since the Consumer Advocate believes that the issues he intended to raise in
this case can be sufficiently addressed in a future generic proceeding before the Administrative
Law Judge Division, he now withdraws his original request for a hearing in this matter.
6.There are no other unresolved issues remaining; therefore, all parties agree to
the dismissal of this matter.
NOW, THEREFORE, the above referenced matter is dismissed.
IT IS SO ORDERED.
______________________________
RAY N. STEVENS
ADMINISTRATIVE LAW JUDGE
November 26, 2003
Columbia, South Carolina |
