Current through Register Vol. 39, No. 6, September 16, 2024
All companies writing North Carolina nonfleet private
passenger automobile insurance shall collect the statistical data described in
this Rule and shall report such data to their statistical agent. The
statistical agents shall thereupon provide the data on a combined basis to the
Actuarial Services Division.
(1)
Premium, Exposure, Loss, and Claim Experience. Provide written and earned
exposures, written and earned premiums, number of paid and incurred claims, and
paid and incurred total limit losses biannually for each of the latest six
accident or calendar half-years in the following detail:
(a) by coverage as follows: bodily injury,
property damage, medical payments, uninsured motorist, underinsured motorist,
comprehensive, or collision;
(b) by
type of exposure as follows: voluntary, or involuntary;
(c) by territory;
(d) by class;
(e) by basic or increased limit or
deductible; and
(f) by cause or
type of loss for comprehensive coverage.
(2) Loss and Premium Experience by Zip Code.
Provide data by zip code annually in the following detail:
(a) calendar year written premium for all
coverages combined;
(b) accident
year incurred losses and incurred claims valued at 15 months for bodily injury
and property damage coverages;
(c)
calendar year incurred losses and incurred claims for comprehensive and
collision coverages;
(d) calendar
year voluntary written exposures separately for bodily injury and property
damage, comprehensive, and collision;
(e) calendar year involuntary written
exposures for bodily injury and property damage;
(f) calendar year substandard written
exposures for comprehensive and collision; and
(g) calendar year written exposures for
bodily and property damage by class.
(3) Loss Trend Experience. Provide earned
exposures, earned premiums, number of paid or incurred claims, paid or incurred
losses, loss frequency, and loss severity for each of the latest 16 three-month
and twelve-month calendar periods ending quarterly in the following detail:
(a) for bodily injury coverage:
(i) basic limits and total limits paid trends
including allocated loss adjustment expense;
(ii) basic limits and total limits paid
trends excluding allocated loss adjustment expense;
(iii) basic limits and total limits incurred
trends including allocated loss adjustment expense; and
(iv) basic limits and total limits incurred
trends excluding allocated loss adjustment expense.
(b) for property damage coverage, the same
trends required for bodily injury.
(c) for medical payments coverage, total
limits paid trend excluding allocated loss adjustment expense.
(d) for uninsured motorist bodily injury
coverage:
(i) total limits paid trend
excluding allocated loss adjustment expense; and
(ii) total limits incurred trend excluding
allocated loss adjustment expense.
(e) for comprehensive coverage:
(i) paid trend excluding allocated loss
adjustment expense for exposures with no deductible;
(ii) paid trend excluding allocated loss
adjustment expense separately for exposures with deductibles of fifty dollars
($50.00), one hundred dollars ($100.00), two hundred dollars ($200.00), two
hundred fifty dollars ($250.00), five hundred dollars ($500.00), and one
thousand dollars ($1000.00); and
(iii) paid trend excluding allocated loss
adjustment expense for all exposures not otherwise included.
(f) for collision coverage:
(i) paid trend excluding allocated loss
adjustment expense separately for exposures with deductibles of fifty dollars
($50.00), one hundred dollars ($100.00), two hundred dollars ($200.00), two
hundred fifty dollars ($250.00), five hundred dollars ($500.00), and one
thousand dollars ($1000.00); and
(ii) paid trend excluding allocated loss
adjustment expense for all exposures not otherwise included.
(4) Liability Loss
Development Experience. Provide loss and earned exposure data for fiscal
accident years ending June 30 and December 31 at annual evaluation dates from
15 to 63 months for at least ten years in the following detail:
(a) for bodily injury and property damage
coverages, separately detail the coverages for voluntary business and for
business ceded to the North Carolina Reinsurance Facility and also provide the
total for both types of business:
(i) basic
limits paid losses;
(ii) basic
limits incurred losses;
(iii) total
limits paid losses;
(iv) total
limits incurred losses;
(v) paid
claims;
(vi) incurred
claims;
(vii) earned premium for
the corresponding calendar year; and
(viii) earned exposures for the corresponding
calendar year.
(b) for
medical payments coverage, separately detail the coverages for voluntary
business and for business ceded to the North Carolina Reinsurance Facility and
also provide the total for both types of business:
(i) total limits paid losses;
(ii) total limits incurred losses;
(iii) paid claims;
(iv) incurred claims;
(v) earned premium for the corresponding
calendar year; and
(vi) earned
exposures for the corresponding calendar year.
(c) for uninsured and underinsured motorist
coverage:
(i) total limits paid
losses;
(ii) total limits incurred
losses;
(iii) paid
claims;
(iv) incurred
claims;
(v) estimated (actual if
available) earned premium for the corresponding calendar year; and
(vi) estimated (actual if available) earned
exposures for the corresponding calendar year.
(5) Physical Damage Age and Symbol Trend
Experience. Provide the average age and symbol value for each of the latest
twenty half-year periods ending June 30 and December 31 for the following
coverages:
(a) full coverage
comprehensive;
(b) comprehensive
coverage with a fifty dollar ($50.00) deductible;
(c) comprehensive coverage with a one hundred
dollar ($100.00) deductible;
(d)
collision coverage with a one hundred dollar ($100.00) deductible;
(e) collision coverage with a two hundred
fifty dollar ($250.00) deductible; and
(f) collision coverage with a five hundred
dollar ($500.00) deductible.
Authority
G.S.
58-2-40;
58-2-190;
Eff.
December 1, 1990;
Readopted Eff. October 1,
2018.
