Rates shall be made as follows:
(A) Manual, minimum class rates, rating schedules, or rating plans shall be made and adopted, except in the case of specific inland marine rates on risks specially rated.
(B) Rates shall not be excessive, inadequate, or unfairly discriminatory.
(C) Consideration shall be given to:
(1) Past and prospective loss experience within and outside this state;
(2) Conflagration and catastrophe hazards;
(3) A reasonable margin for underwriting profit and contingencies;
(4) Dividends, savings, or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members, or subscribers;
(5) Past and prospective expenses both countrywide and those specially applicable to this state;
(6) All other relevant factors within and outside this state;
(7) In the case of fire insurance rates, the experience of the fire insurance business during a period of not less than the most recent five year period for which such experience is available.
Except to the extent necessary to comply with division (B) of this section, uniformity among insurers in any matters within the scope of this section is neither required nor prohibited.
Effective Date: 10-01-1953 .