New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 3 - AUTOMOBILE INSURANCE
Subchapter 16 - RATE FILING REQUIREMENTS: VOLUNTARY MARKET PRIVATE PASSENGER AUTOMOBILE INSURANCE
Section 11:3-16.10 - Profit and contingency provision
Current through Register Vol. 56, No. 6, March 18, 2024
(a) Filers, except for rating organizations, shall provide all information related to the derivation of the profit and contingency loading contained in the filing by group of coverages. Filers shall specifically include all data used and judgments made, as well as a description of the method used to arrive at the selected loading. Filers shall demonstrate that the profit and contingency loading does not result in rates that are excessive, inadequate or unfairly discriminatory.
(b) The filer's selected profit and contingency loading as referenced in (a) above shall remain in effect for all future rate filings until such time as a different profit and contingency loading is approved.