New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 13 - COMMERCIAL LINES INSURANCE
Subchapter 2 - COMMERCIAL LINES FILINGS
Section 11:13-2.2 - Filing of changes
Universal Citation: NJ Admin Code 11:13-2.2
Current through Register Vol. 56, No. 6, March 18, 2024
(a) Filings containing changes in rates, supplementary rate information, including any manual rules or plans, or in policy forms or endorsement required to be filed with the Department shall be presented in the following fashion:
1. A copy of the page or pages containing the
passage for which a change is proposed shall be filed in such form that the
text is self-contained without need to refer to material not included in the
filing. Matter to be changed or omitted by the filing shall be identified,
preferably by marking the passages to be changed with a marking pencil; where
matter is to be added, a mark ( ) shall so indicate.
2. A memorandum shall be filed reciting the
rule or section of form to be changed, properly referenced as to the manual or
form, with newly added matter underlined and matter to be eliminated in
brackets [].
(b) An explanatory note shall state the reason or purpose for the proposed change including any statistical support, and a calculation or estimate of the effect of the change on premiums and/or losses shall be submitted:
1. Filings of proposed rate changes must
contain all information upon which the rate filer relied. Due consideration
must be given to: past and prospective loss experience, including where
pertinent, the conflagration and catastrophe hazards, if any, both within and
without the State; all factors reasonably related to the kind of insurance
involved; a reasonable profit for the insurer; and, in the case of
participating insurer, policyholder's dividends.
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