New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 21 - SMALL EMPLOYER HEALTH BENEFITS PROGRAM
Subchapter 7A - LOSS RATIO REPORTS; DIVIDENDS AND CREDITS
Section 11:21-7A.4 - Contents of the loss ratio report
Universal Citation: NJ Admin Code 11:21-7A.4
Current through Register Vol. 56, No. 18, September 16, 2024
(a) A loss ratio report filed pursuant to 11:21-7A.3 shall include the following information:
1. The reporting
carrier's name and address;
2. The
carrier's earned premiums, before dividends or credits applicable to prior
years, and claims for the preceding calendar year, calculated pursuant to the
instructions of Exhibit GG;
3. The
carrier's loss ratio determined by dividing the claims by the
premiums;
4. The carrier's
calculation of the dividends and credits to be issued pursuant to N.J.S.A.
17B:27A-25g(2). (A credit is a dividend paid in the form of a reduction in a
current premium due, as distinguished from dividends paid in cash.);
5. An explanation of the carrier's plan to
issue dividends and credits;
6. An
explanation of the carrier's plan to distribute a dividend in the event of
cancellation or termination by a policyholder;
7. Certification by a member of the American
Academy of Actuaries that the information provided in the report is accurate
and complete and that the carrier is in compliance with the requirements of
N.J.S.A. 17B:27A-25g(2), N.J.A.C. 11:21-7A and instructions; and
8. Such other information as the Department
may request.
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