New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 3 - AUTOMOBILE INSURANCE
Subchapter 20 - REPORTING FINANCIAL DISCLOSURE AND EXCESS PROFITS
Section 11:3-20.7 - Determination of an excess profit
Universal Citation: NJ Admin Code 11:3-20.7
Current through Register Vol. 56, No. 18, September 16, 2024
The existence of an excess profit shall be determined based upon calculations made in accordance with the Exhibits set forth in the Appendix to this subchapter for the seven calendar-accident years immediately preceding the date the excess profit report is due. An excess profit shall be deemed to exist when an insurer's total actuarial gain for all private passenger automobile coverages combined exceeds 2.5 percent of earned premium, or 3.85 percent on a pre-tax basis, using the Federal corporate tax rate of 35 percent.
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