New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 13 - COMMERCIAL LINES INSURANCE
Subchapter 6 - COMMERCIAL INSURANCE RATING PLANS
Section 11:13-6.1 - Purpose and scope
Universal Citation: NJ Admin Code 11:13-6.1
Current through Register Vol. 56, No. 6, March 18, 2024
(a) This subchapter establishes standards for commercial insurance rating plans to modify rates in the development of premiums for specific risks.
(b) These standards are intended to:
1. Recognize expected loss differentials
based on factors applied using sound underwriting principles;
2. Promote competition among insurers in the
rating of individual commercial risks;
3. Promote fair and equitable treatment of
insureds; and
4. Encourage loss
control and safety measures.
(c) This subchapter applies to all insurers and rating organizations or advisory organizations that file rates for commercial lines insurance.
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