New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 3 - AUTOMOBILE INSURANCE
Subchapter 16 - RATE FILING REQUIREMENTS: VOLUNTARY MARKET PRIVATE PASSENGER AUTOMOBILE INSURANCE
Section 11:3-16.9 - Data requirements for expense provisions
Current through Register Vol. 56, No. 6, March 18, 2024
(a) Filers, not including rating organizations, shall provide the following data regarding expenses, by group of coverages:
(b) Filers, not including rating organizations, shall provide the derivation of the expense flattening, and the calculation of indicated fixed expense fees on a per exposure basis, as required by 17:29A-37. The expense fees shall be applied by coverage.
(c) In determining the selected expense provision for commission and brokerage, other acquisition expenses and general expenses on a combined basis, the percentage to premium for each year of experience shall be limited as set forth in Exhibit E in the Appendix, incorporated herein by reference.
(d) The following expense items shall not be incorporated into the expense base for determining rates:
(e) Commissions for bodily injury liability coverage for the Limitation on Lawsuit and No Limitation on Lawsuit options shall be equalized in accordance with Exhibit C in the Appendix, incorporated herein by reference.
(f) All data shall be on a direct basis, including AIRE assessments, AIRE allocations, AIRE investment income, and LAD fees, if applicable, or the expected gain (deficit) resulting from assigned risk business.
(g) Filers, not including rating organizations, shall account for impacts of significant changes to legislative, regulatory, social, economic or operational factors that have an impact on expenses.