North Carolina Administrative Code › Title 11 - INSURANCE › Chapter 10 - PROPERTY AND CASUALTY DIVISION › Section .1100 - RATE FILINGS › Section 10 .1108 - NONESSENTIAL LINES ADDITIONAL DATA

Current through Register Vol. 39, No. 2, July 15, 2024
For those filings meeting one or more of the criteria
				  described in Rule .1102(5) of this Section, the Commissioner may request, in
				  addition to the Rate Filing Questionnaire described in Rule .1107 of this
				  Section, that all or part of the information required by
				  G.S.
				  58-41-50(e) shall be
				  presented as follows:
Note: If the data required by this Rule are not being
				  collected or are not readily available to insurers prior to January 1, 1990,
				  the insurers shall commence collecting such data as of July 1, 1990. Such
				  required data as have accrued shall be included in each filing until enough
				  data are available to fully satisfy this Rule. If in addition to the full years
				  of data specified in any of the below requests, more recent data of less than a
				  full year are available, that data shall also be provided. If updates to the
				  information requested below become available before a decision is reached on
				  the filing, they shall also be provided. Such data are for ratemaking purposes
				  only and should be collected only by those companies to whom this regulation
				  will apply. If any part of the data requested is inapplicable to the review of
				  a particular filing and is therefore excluded, an explanation for the exclusion
				  shall be given. If the filing is being made by a rating organization using all
				  or part of the data of its member or subscriber companies, the information
				  provided shall be aggregate or industrywide information and the individual
				  companies whose data is being used shall be identified. If the filing is being
				  made by an individual company and is based on an approved filing made by a
				  rating organization, that approved filing shall be identified and also the
				  aspects that the company is incorporating in its own filing. It is not
				  necessary to reproduce the data included in the rating organization's
				  filing.
(1) North Carolina premium,
				loss and loss adjustment experience:
(a) For
				each coverage, premium at present rates shall be calculated. Indicate how such
				calculations were produced and supply supporting documentation for a sample of
				such calculations and an explanation of any aggregate factors used.
(b) Information from the Annual Statement on
				losses and premiums shall be included. Provide such information separately from
				the latest five Annual Statements for the individual line(s) affected by the
				filing:
(i) North Carolina Page 14;
(ii) Part 2;
(iii) Part 2B;
(iv) Part 3A.
(c) The following information on overall rate
				level for individual coverages shall be calculated or estimated:
(i) The experience rating plan and schedule
				rating plan off-balance;
(ii) The
				average deviation from bureau rates;
(iii) The average dividend granted.
If the filing involves a rate change for a particular
				  classification or territory, rather than an overall statewide rate change, the
				  same information shall be calculated or estimated for that class or
				  territory.
(d)
				For each coverage and each year used in setting the overall rate level, the
				following information on dollars of incurred losses shall be provided:
(i) Paid losses;
(ii) Case basis reserves;
(iii) Loss development;
(iv) Incurred allocated loss adjustment
				expense (if collected separately from losses);
(v) Incurred unallocated (or combined
				allocated and unallocated) loss adjustment expense;
(vi) Applied trend factor;
(vii) Trended total incurred losses and
				LAE.
(e) Whenever North
				Carolina or countrywide losses are separated into excess (catastrophe) and
				nonexcess (noncatastrophe) losses, a clear description and explanation of the
				standard used to separate such losses shall be included. In determining an
				excess (catastrophe) loading, supply as many years of data as possible. If the
				number of years used differs from the number available, provide an explanation.
				Also provide an explanation if the data from which the excess loading is
				derived differs from that on which the rate level change is based.
(f) Territorial and class rate calculations
				shall include earned premiums, incurred losses, and the number of claims for
				each of the years used to determine relativities.