New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 13 - COMMERCIAL LINES INSURANCE
Subchapter 6 - COMMERCIAL INSURANCE RATING PLANS
Section 11:13-6.2 - Definitions

Universal Citation: NJ Admin Code 11:13-6.2
Current through Register Vol. 56, No. 6, March 18, 2024

The following words and terms, when used in this subchapter, shall have the following meanings unless the context clearly indicates otherwise.

"Base rate" means the unit charge by which the measure of exposure or the amount of insurance specified in a policy of insurance or covered thereunder is multiplied to determine the premium, which rate is filed with the Commissioner pursuant to N.J.S.A. 17:29AA-5.

"Commercial insurance rating plan" includes any plan of rates and rules for the adjustment of premiums from base rates for commercial lines insurance coverages.

"Commercial lines insurance" includes all insurance policies so defined in N.J.S.A. 17:29AA-3a.

"Commissioner" means the Commissioner of the New Jersey Department of Banking and Insurance.

"Department" means the New Jersey Department of Banking and Insurance.

"Filer" means a rating organization or advisory organization or any insurer making its own rates and proposing to establish a new rate, a rate change, or a rating rule.

"Policy" means any contract of commercial lines insurance including, but not limited to, all policies, contracts, certificates and endorsements.

"Supplementary rate information" includes any manual or plan of rates, statistical plan, classification, rating schedule, rating rule and any other rule used by an insurer in making rates.

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