South Dakota Issues Bulletin Addressing Rating Program

The South Dakota Division of Insurance issued a bulletin on Tuesday addressing rules applicable to the state's Schedule Rating Program effective March 1, 2006. The Schedule Rating Plan is optional, the division notes. Changes made to the program include: --Risks of all premium sizes are eligible except minimum premium risks. --A schedule credit or debit can be applied to a Workers Compensation new business proposal. Underwriting must document why the credit or debit is being applied. To complete the underwriting file a loss control inspection or survey must supplement the justification f...