Rate Service Organization
What Is a Rate Service Organization
A rate service organization is a person other than a single insurer who assists insurers by compiling and furnishing loss or expense statistics and recommending, making or filing rates, forms or supplementary rate information. Rate service organization does not include a joint underwriting association, any actuarial or legal consultant, any employee of an insurer or insurers under common control or management, or their employees or manager. ARS § 20-381.
Who Must Be Licensed?
A rate service organization shall not provide any service relating to the rates of any insurance subject to this article nor may any insurer utilize the service of such organization for such purposes unless the organization has obtained a license from the director.. ARS § 20-389.