reglab/statecodes huggingface dataset:
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 13 - COLLISION AND COMPREHENSIVE COVERAGE DEDUCTIBLES AND OPTIONS › Section 11:3-13.4 - Filing and reporting requirements

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The filing of a rating organization shall be applicable to the members and subscribers of the organization who have authorized the organization to file on their behalf.
1. Members or subscribers may submit to the Commissioner for approval a separate filing which deviates from the rating organization's filing. Such filings shall be prepared and submitted in accordance with the requirements of this subchapter.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 13 - COLLISION AND COMPREHENSIVE COVERAGE DEDUCTIBLES AND OPTIONS › Section 11:3-13.5 - Named excluded driver

Current through Register Vol. 56, No. 14, July 15, 2024
(a) For purposes of this subchapter, a "named excluded driver" means a driver who is specifically identified in the endorsement as a person who is excluded from physical damage coverage for specified automobile(s) and whose operation of a specified automobile(s) covered under the policy at the time of an accident would result in the denial of a physical damage claim for that automobile(s) made by the named insured or any loss payee. For the purpose of this section, physical damage coverage means both collision and comprehensive coverages (also referred to as "other than collision" coverage), or comprehensive coverage if purchased on a stand-alone basis.
(b) The premium charged for the physical damage coverage on the specified automobile(s) to which the named excluded driver endorsement applies shall not reflect the claim experience or driving record or rating classification of the named excluded driver or drivers.
(c) The named excluded driver endorsement shall be made available by personal private passenger automobile insurers to their insureds. Election of a named excluded driver endorsement shall be in writing and signed by a named insured in accordance with the subchapter Appendix incorporated herein by reference. The named excluded driver endorsement shall continue in force for the specified automobile(s) on subsequent renewal or replacement policies unless:
1. The specified automobile(s) is removed from the policy;
2. A new automobile replaces the specified automobile(s) on the policy; or
3. The insurer or its authorized representative receives a written request signed by a named insured electing to discontinue the endorsement.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 14 - PERSONAL INJURY PROTECTION OPTIONS FOR STANDARD POLICIES › Section 11:3-14.1 - Purpose

Current through Register Vol. 56, No. 14, July 15, 2024
This subchapter establishes rules for the provision of optional deductibles and benefits for personal injury protection offered under standard private passenger automobile insurance policies pursuant to 39:6A-4.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 14 - PERSONAL INJURY PROTECTION OPTIONS FOR STANDARD POLICIES › Section 11:3-14.2 - Scope

Current through Register Vol. 56, No. 14, July 15, 2024
This subchapter applies to every insurer, including any residual market mechanism created by any New Jersey statute, authorized to transact the business of automobile insurance in this State.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 14 - PERSONAL INJURY PROTECTION OPTIONS FOR STANDARD POLICIES › Section 11:3-14.3 - Optional medical expense benefits for standard policies

Current through Register Vol. 56, No. 14, July 15, 2024
(a) With respect to personal injury protection under standard automobile insurance policies, issued pursuant to 39:6A-4, each insurer shall make available as an option, at appropriately reduced premiums, medical expense benefits in amounts of $ 150,000, $ 75,000, $ 50,000, and $ 15,000. If none of these options is affirmatively chosen in writing, the policy shall provide medical expense benefits in an amount not to exceed $ 250,000 per person per accident.
(b) Notwithstanding (a) above, if an optional medical expense benefit option is chosen, the policy shall provide that medical expense benefits shall be paid in an amount not to exceed $ 250,000, inclusive of any limit of medical expense benefits pursuant to (a) above, for all medically necessary treatment of permanent or significant brain injury, spinal cord injury or disfigurement or for medically necessary treatment of other permanent or significant injuries rendered at a trauma center or acute care hospital immediately following the accident and until the patient is stable, no longer requires critical care and can be safely discharged or transferred to another facility in the judgment of the attending physician.
(c) "Significant disfigurement" as used in (b) above means the result and/or manifestation of a serious traumatic injury that is observable as a permanent and substantial defect in the appearance and functional ability of the person injured. "Significant disfigurement" is a serious outward change that substantially detracts from the appearance and functional ability of the person injured.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 14 - PERSONAL INJURY PROTECTION OPTIONS FOR STANDARD POLICIES › Section 11:3-14.4 - Optional exclusion of income continuation benefits, essential services benefits, death benefits and funeral expense benefits

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Automobile insurers offering personal injury protection coverage pursuant to 39:6A-4 shall, at an appropriate reduced premium, provide the named insured the option to exclude all of the following benefits from such coverage:
1. Income continuation benefits;
2. Essential services benefits;
3. Death benefits;
4. Funeral expense benefits.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 14 - PERSONAL INJURY PROTECTION OPTIONS FOR STANDARD POLICIES › Section 11:3-14.5 - Option to choose health care insurance coverage as primary coverage

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Pursuant to 39:6A-4.3, for policies issued or renewed on or after January 1, 1991, an insurer shall provide the option that other health insurance coverage or benefits of the insured, including health care services provided by a health maintenance organization and any coverage or benefits provided under any Federal or State program, are the primary coverage for medical expense benefits for personal injury protection coverage; provided, however, that this option shall not apply to any coverage or benefits provided pursuant to Medicare or Medicaid.
(b) The Coverage Selection Form (see 11:3-15.7 ) shall require insureds or prospective insureds to identify the health insurer(s) providing primary personal injury protection medical expense benefits. This identification shall fulfill the requirement in 39:6A-4.3 that named insureds provide proof that they and members of their family residing in the household are covered by health insurance coverage or benefits.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 14 - PERSONAL INJURY PROTECTION OPTIONS FOR STANDARD POLICIES › Section 11:3-14.6 - Refund or credit of unearned premium

Current through Register Vol. 56, No. 14, July 15, 2024
Every automobile insurer offering personal injury protection coverage shall establish a fair, practicable and non-discriminatory plan for the refund or application of credit of any unearned premium resulting from the selection of any deductible and/or exclusion option pursuant to this subchapter.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 14 - PERSONAL INJURY PROTECTION OPTIONS FOR STANDARD POLICIES › Section 11:3-14.7 - Filing requirements

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Every automobile filer shall submit to the Commissioner for approval filings of rates or manual rules which provide the optional medical expense benefit deductibles for personal injury protection coverage.
(b) Within 30 days of the effective date of this subchapter, every automobile filer shall submit to the Commissioner for approval filings of rates or manual rules which provide the optional exclusion from personal injury protection coverage of income continuation benefits, essential service benefits, death benefits, and funeral expense benefits.
(c) All filings submitted for approval pursuant to this subchapter, and all changes and amendments thereto, shall be prepared in accordance with insurance laws and regulations, including the applicable provisions of 17:29A-1 et seq. and N.J.A.C. 11:1-2 and the Department's existing filing procedures.
(d) The filing of a rating organization shall be applicable to the members and subscribers of the organization who have authorized the organization to file on their behalf.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 14 - PERSONAL INJURY PROTECTION OPTIONS FOR STANDARD POLICIES › Section 11:3-14.8 - Application of the option to choose health care insurance coverage as the primary insurer

Current through Register Vol. 56, No. 14, July 15, 2024
When an insured or prospective insured elects to have a health insurer provide primary personal injury protection medical expenses benefits, the medical expenses benefits available to the insured under his or her automobile policy's personal injury protection provisions shall become a secondary benefits provider. The order of benefit determination shall be in accordance with N.J.A.C. 11:3-37.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 15 - BUYER'S GUIDE, COVERAGE SELECTION FORM, AND AUTOMOBILE INSURANCE CONSUMER BILL OF RIGHTS FOR STANDARD AND BASIC POLICIES › Section 11:3-15.1 - Purpose

Current through Register Vol. 56, No. 14, July 15, 2024
(a)
									39:6A-23 requires the Commissioner of the Department of Banking and Insurance to promulgate standards for the written notice to be provided to applicants for private passenger automobile insurance and to policyholders offered renewal of coverage. This written notice includes one of two versions of the Buyer's Guide and one of two versions of the Coverage Selection Form.
(b)N.J.S.A. 17:29A-52a requires every insurer writing private passenger automobile insurance in this State to provide each insured at least annually and each applicant for insurance with an Automobile Insurance Consumer Bill of Rights. The Automobile Insurance Consumer Bill of Rights shall contain the information necessary, relevant or appropriate to improve the understanding of the rights and responsibilities of consumers and insurers regarding automobile insurance.
(c) This subchapter implements the statutory requirements in (a) and (b) above and establishes the necessary minimum standards insurers shall use in giving notice of available coverages, options and rate credits and of the rights and responsibilities of consumers and insurers regarding automobile insurance.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 15 - BUYER'S GUIDE, COVERAGE SELECTION FORM, AND AUTOMOBILE INSURANCE CONSUMER BILL OF RIGHTS FOR STANDARD AND BASIC POLICIES › Section 11:3-15.2 - Scope

Current through Register Vol. 56, No. 14, July 15, 2024
(a) This subchapter applies to every insurer authorized to transact the business of private passenger automobile insurance in this State and to any automobile residual market mechanism created by any New Jersey statute.
(b) This subchapter applies to personal lines private passenger automobile insurance policies and individually-owned private passenger automobiles written on commercial insurance policies.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 15 - BUYER'S GUIDE, COVERAGE SELECTION FORM, AND AUTOMOBILE INSURANCE CONSUMER BILL OF RIGHTS FOR STANDARD AND BASIC POLICIES › Section 11:3-15.3 - Definitions

Current through Register Vol. 56, No. 14, July 15, 2024
The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise.
"Basic automobile insurance policy" or "basic policy" means those private passenger automobile insurance policies issued in accordance with 39:6A-3.1 and N.J.A.C. 11:3-3.
"Commissioner" means the Commissioner of the Department of Banking and Insurance.
"Department" means the Department of Banking and Insurance of the State of New Jersey.
"Insurer" means any person, corporation, association, partnership, company, reciprocal exchange and any other legal entity issuing a contract of private passenger automobile insurance, including any residual market mechanism established pursuant to any New Jersey statute. As appropriate, "insurer" shall also mean a servicing carrier for a residual market mechanism.
"Private passenger automobile insurance policy" means a Standard policy as defined in 39:6a-3 or a Basic policy as defined in 39:6A-3.1 providing direct insurance on an automobile as defined in 39:6A-2.
"Standard automobile insurance policy" or "standard policy" means a private passenger automobile insurance policy issued in accordance with 39:6A-3 that includes the personal injury protection coverage described in 39:6A-4.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 15 - BUYER'S GUIDE, COVERAGE SELECTION FORM, AND AUTOMOBILE INSURANCE CONSUMER BILL OF RIGHTS FOR STANDARD AND BASIC POLICIES › Section 11:3-15.4 - Compliance

Current through Register Vol. 56, No. 14, July 15, 2024
(a) No new private passenger automobile insurance policy or renewal shall be issued unless the application for the policy or renewal offer is accompanied by a Buyer's Guide, a Coverage Selection Form and an Automobile Insurance Consumer Bill of Rights that meet the minimum standards prescribed in this subchapter.
1. The renewal offer shall include the appropriate Buyer's Guide and Coverage Selection Form for the policy being renewed.
2. Where application for or renewal of an insurance policy is made via the Internet, compliance with (a) above shall be satisfied by having the Buyer's Guide, Coverage Selection Form and Automobile Insurance Consumer Bill of Rights readily available to the applicant/insured on the insurer's website. In addition to being readily available on the insurer's website, this information also may be placed on the producer's website, if provided or authorized by the insurer.
3. Where application for or renewal of an insurance policy is made via the telephone and coverage is bound during the telephonic transaction, compliance with (a) above shall be satisfied if the insurer, with the agreement of the applicant or insured, sends the insured the Buyer's Guide, a completed Coverage Selection Form showing the coverage choices made by the insured, and an Automobile Insurance Consumer Bill of Rights within five business days after the telephonic transaction is completed. Insureds may alter coverages based on their review of such documents by returning a signed Coverage Selection Form with the changes noted therein, or electronically, provided that the requirements of 12A:12-1 et seq. are satisfied and that such process is made available by the insurer. Such alterations shall be effective in accordance with 11:3-15.7(d)2.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 15 - BUYER'S GUIDE, COVERAGE SELECTION FORM, AND AUTOMOBILE INSURANCE CONSUMER BILL OF RIGHTS FOR STANDARD AND BASIC POLICIES › Section 11:3-15.5 - New Jersey Auto Insurance Buyer's Guide

Current through Register Vol. 56, No. 14, July 15, 2024
(a) There are established two Buyer's Guides for use by insurers: a personal lines Buyer's Guide and a commercial lines Buyer's Guide for individually owned vehicles written on commercial policies. The Buyer's Guides shall be available on the Department's website.
1. The personal lines Buyer's Guide can be found at
http://www.state.nj.us/dobi/siteindex.htm#IIS .
2. The commercial Buyer's Guide can be found at
http://www.state.nj.us/dobi/siteindex.htm#IIS .
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 15 - BUYER'S GUIDE, COVERAGE SELECTION FORM, AND AUTOMOBILE INSURANCE CONSUMER BILL OF RIGHTS FOR STANDARD AND BASIC POLICIES › Section 11:3-15.6 - Minimum standards for Coverage Selection Forms

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Each insurer shall have a separate Coverage Selection Form for the Standard Policy and for the Basic Policy using the text found in the Appendix, Exhibits 1 and 3 incorporated herein by reference.
(b) The Coverage Selection Forms shall contain a statement advising the insured or applicant that additional information concerning coverages or premiums is available by contacting the insurer or the producer. Insurers that write at least two percent of the New Jersey private passenger automobile market shall provide a toll-free telephone number for this purpose.
(c) Except as otherwise provided in the text, each Coverage Selection Form shall be printed in at least 10-point type on a paper size that is easily readable.
(d) In addition to the required text, each Coverage Selection Form shall include space at the top for the consumer's name and any other necessary information such as policy number, etc. The bottom of each Coverage Selection Form shall have space for the consumer's signature and date.
1. Text in the Appendix, Exhibits 1 and 3 in italics, thus, is instructions or options for the insurer and should not be printed in the Coverage Selection Form.
2. Text in uppercase letters denotes section headings, defined terms or is for emphasis. Insurers are not restricted to uppercase for these purposes in formatting the Coverage Selection Forms.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 15 - BUYER'S GUIDE, COVERAGE SELECTION FORM, AND AUTOMOBILE INSURANCE CONSUMER BILL OF RIGHTS FOR STANDARD AND BASIC POLICIES › Section 11:3-15.7 - Use of coverage selection form; availability

Current through Register Vol. 56, No. 14, July 15, 2024
(a) For all new policies, an insurer or an insurance producer shall receive a Coverage Selection Form signed by the named insured and indicating the prospective insured's coverage choices. Coverage shall not become effective until the signed Coverage Selection Form is received from the named insured, unless otherwise authorized by law.
(b) For the mid-term policy changes set forth in (b)1 through 5 below, the insurer shall receive a Coverage Selection Form signed by the named insured prior to making the change.
1. Change of policy type to Standard or Basic;
2. Change of Lawsuit Option (Standard Policy only):
3. Change of primary coverage for PIP medical expense benefits coverage (from or to Health Insurer Primary) (Standard Policy only);
4. Change in PIP Medical Expense Coverage Limit (Standard Policy only); and
5. Addition or deletion of Liability Coverage (Basic Policy only).
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 15 - BUYER'S GUIDE, COVERAGE SELECTION FORM, AND AUTOMOBILE INSURANCE CONSUMER BILL OF RIGHTS FOR STANDARD AND BASIC POLICIES › Section 11:3-15.8 - New Jersey Automobile Insurance Consumer Bill of Rights

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The insurer shall produce a Consumer Bill of Rights by reproducing the New Jersey Automobile Insurance Consumer Bill of Rights available on the Department's website at
https://www.state.nj.us/dobi/siteindex.htm#IIS
. The Department shall notify insurers of any changes to the Consumer Bill of Rights by Bulletin. Insurers shall provide the Consumer Bill of Rights, as revised, with new and renewal business 60 days after the date of the Bulletin.
(b) The Consumer Bill of Rights shall be reproduced in the format as presented on the website, duplicating the language provided therein, and to the extent practicable, the layout, fonts, type-point sizes, colors and illustrations. Notwithstanding the foregoing, all language bolded on the Consumer Bill of Rights as depicted on the Department's website shall be bolded and no type-point size less than 10 point shall be used.
(c) The Consumer Bill of Rights shall contain:
1. An overview containing the purpose of the Bill of Rights;
2. The consumer's obligations with regard to their insurance;
3. The duties of the insurer concerning the application process;
4. The consumer's general insurance rights regarding denials and right to purchase;
5. The consumer's right to appeal a cancellation of insurance;
6. Instructions on how to be an educated insurance consumer; and
7. A statement advising the insured or applicant that additional information concerning the Coverage Selection Form and Buyer's Guide is available by contacting the insurer or the producer.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 15 - BUYER'S GUIDE, COVERAGE SELECTION FORM, AND AUTOMOBILE INSURANCE CONSUMER BILL OF RIGHTS FOR STANDARD AND BASIC POLICIES › Section 11:3-15.9 - Penalties

Current through Register Vol. 56, No. 14, July 15, 2024
Failure to comply with the provisions of this subchapter may result in the imposition of penalties as prescribed by law.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 16 - RATE FILING REQUIREMENTS: VOLUNTARY MARKET PRIVATE PASSENGER AUTOMOBILE INSURANCE › Section 11:3-16.1 - Purpose and scope

Current through Register Vol. 56, No. 14, July 15, 2024
(a) This subchapter establishes data, filing format and standardized ratemaking information and methodology requirements for all private passenger automobile rate filings for the voluntary market, in implementation of 17:29A-1 et seq. and as required by 17:29A-36.2.
(b) This subchapter applies to all insurers making private passenger automobile insurance rate filings for the voluntary market in this State.
(c) These requirements apply to all rate or loss cost filings made by insurers for the revision of base rates or loss costs; informational filings to be made on July 1 of each year pursuant to N.J.S.A. 17:29A-36.2b; and those filings made under 17:29A-46.6.
(d) Any insurer wishing to effect the rate level by changing rates, rules or forms must file data pursuant to this subchapter.
(e) This subchapter establishes data requirements and filing procedures for insurers participating in rating organizations to adopt or modify a rating organization's prospective loss cost filing for private passenger automobile insurance.
(f) This subchapter applies to all rating organizations that file prospective loss costs and all insurer filings that adopt or modify a rating organization's prospective loss cost filing for private passenger insurance made pursuant to 17:29A-1 et seq. and 17:33B-31.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 16 - RATE FILING REQUIREMENTS: VOLUNTARY MARKET PRIVATE PASSENGER AUTOMOBILE INSURANCE › Section 11:3-16.3 - General requirements and filing format

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The data requirements set forth in this subchapter are minimum requirements. The filer may submit any other data it believes to be relevant in justifying proposed rate changes. If the filer has not collected portions of this information in the past, or has not collected it in a form so as to facilitate reporting, it is not required to compile it retrospectively.
(b) Separate insurance companies that are affiliated by a parent-subsidiary or any group relationship and that choose to submit a single filing for the group shall provide the minimum data requirements set forth in 11:3-16.8, 16.9, and 16.10, either:
1. Separately for each company with a different rate level or different acceptance criteria; or
2. Combined for those companies of the group, which use a common rating system, including both base rates and acceptance criteria, or when the difference is based only on expense differences.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 16 - RATE FILING REQUIREMENTS: VOLUNTARY MARKET PRIVATE PASSENGER AUTOMOBILE INSURANCE › Section 11:3-16.4 - Insurer informational filings due July 1 of each year

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Informational filings shall be made by all insurers transacting private passenger automobile insurance in the voluntary market, including all individual members and subscribers of rating organizations, pursuant to N.J.S.A. 17:29A-36.2b.
(b) The information filing shall consist of the following documents:
1. The insurer's Excess Profits Report for each company filed pursuant to N.J.A.C. 11:3-20. In lieu of providing copies, the filer may submit a certification of an officer that the report has been filed and is incorporated by reference.
2. Such other specific information on a particular subject at a particular time as the Commissioner may require by Order.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 16 - RATE FILING REQUIREMENTS: VOLUNTARY MARKET PRIVATE PASSENGER AUTOMOBILE INSURANCE › Section 11:3-16.6 - Filings for rates requiring prior approval

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Any filer that desires to modify its rates or rating systems in a manner other than that provided at N.J.S.A. 17:29A-46.6shall provide the following standard information in support of its application:
1. A cover letter notifying the Department of its intention to modify its rating system in a manner that requires prior approval, pursuant to N.J.S.A. 17:29A-14; a statement describing the proposed changes, which shall include the proposed effective date of the change, and the name, telephone number and mailing address of the company officer familiar with the filing, to whom inquiries about the filing may be directed. Filers may choose to eliminate the submission of a cover letter provided that the SERFF Filing's General Information Filing Description Section is fully completed with a clear and precise description of the filing;
2. A checklist that sets forth the information in Exhibit A in the Appendix incorporated herein by reference;
3. Exhibit B in the Appendix incorporated herein by reference;
4. A narrative overview that sets forth the contents of the filing, and explains the reasons and procedures used to derive the rate change requested;
5. Premiums, losses and loss adjustment expenses data, as set forth in N.J.A.C. 11:3-16.8;
6. Expense data, as set forth in N.J.A.C. 11:3-16.9. Rating organizations are exempt from this requirement;
7. Profit and contingency provision, as set forth in N.J.A.C. 11:3-16.10. Rating organizations are exempt from this requirement;
8. Proposed rates or loss costs for each territory and coverage together with their derivation; 9. Calculations showing that the proposed rates are in compliance with N.J.S.A. 17:29A-36;
10. Data described at N.J.A.C. 11:3-16.8, 16.9, and 16.10 shall be submitted through the use of the NAIC electronic filing system SERFF (System for Electronic Rate and Form Filing). The information shall be provided in a Microsoft Excel or compatible spreadsheet. All calculated values shall be given as a formula in the spreadsheet; and
11. Proposed manual rate and/or rule pages.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 16 - RATE FILING REQUIREMENTS: VOLUNTARY MARKET PRIVATE PASSENGER AUTOMOBILE INSURANCE › Section 11:3-16.8 - Premiums, loss costs, loss and loss adjustment expense data

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Filers shall provide the following data regarding New Jersey premium, loss costs, loss and loss adjustment expenses. Data shall be by coverage for the latest three calendar-accident years, or fiscal-accident years, at either total limits or basic limits, where applicable. Filers shall provide all underlying calculations and justifications for any factors used:
1. Direct earned premium at present rates using either the extension of exposures or on-level factor method. Provide the rate level history;
2. Premium trend factors, including all data and judgments made, and a description of the method used to select the factors;
3. Direct earned exposures measured in car years;
4. Direct paid and/or incurred losses with applicable loss development factors and formulas used;
5. Direct paid and/or incurred defense and cost containment expense with applicable development factors and formulas used;
6. Direct paid and/or incurred adjusting and other expenses;
7. Ultimate developed losses and loss adjustment expenses;
8. Direct paid and/or incurred claim counts with applicable development factors and formulas used;
9. Ultimate developed claims counts;
10. Loss trend factors, including all data and judgments made, and a description of the method used to select the factors; and
11. Trended ultimate developed losses and loss adjustment expenses.
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. 14, July 15, 2024
(a) Filers, not including rating organizations, shall provide the following data regarding expenses, by group of coverages:
1. All information related to the selected expense provisions, specifically including all data used and judgments made;
2. Average expense ratios by line of business for each of the last three complete calendar years for the following expense categories:
i. Commission and brokerage, from New Jersey Page 14 of the Statutory Annual Statement;
ii. Other acquisition expenses, from Part 3 of the Insurance Expense Exhibit;
iii. General expenses, from Part 3 of the Insurance Expense Exhibit; and
iv. Taxes, licenses and fees, from New Jersey Page 14 of the Statutory Annual Statement;
3. The amount of finance and other miscellaneous charges collected in New Jersey in connection with the sale of private passenger automobile insurance; and
4. A description of all products and services supplied or received in transactions between the filer and a parent company, a wholly-owned subsidiary or an affiliated company.
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. 14, July 15, 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.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 16 - RATE FILING REQUIREMENTS: VOLUNTARY MARKET PRIVATE PASSENGER AUTOMOBILE INSURANCE › Section 11:3-16.11 - Incomplete filings and further proceedings

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Failure to submit the data and calculations required by this subchapter may result in a finding that the filing is incomplete. The Department shall promptly notify a filer of a finding that its filing is incomplete.
(b) No finding that a filing is incomplete shall be based solely on the filer's failure to include data that was either not being collected, or was not collected in a manner so as to facilitate reporting, on February 5, 1990, provided that the filer includes with the filing a statement that identifies the item or items not included; specifies the reason; and certifies that the filer is undertaking action to collect and report such data in the future pursuant to 11:3-16.3(a).
(c) For informational filings, failure to submit a filing or failure to cure the deficiency of an incomplete filing within 30 days of notice shall authorize the Department to impose penalties as provided by 17:29A-23. Any penalty imposed shall be in addition to penalties imposed for failure to file an Excess Profits Report.
(d) For filings requiring prior approval, a notice that the filing is incomplete shall include a statement that the filing is disapproved as a nonconforming filing. The filer may thereafter resubmit the filing for approval with the deficiencies cured as noted.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 16 - RATE FILING REQUIREMENTS: VOLUNTARY MARKET PRIVATE PASSENGER AUTOMOBILE INSURANCE › Section 11:3-16.13 - Prospective loss cost filing requirements for insurers

Current through Register Vol. 56, No. 14, July 15, 2024
(a) In order for an insurer to incorporate a rating organization's prospective loss costs to establish its own rates, an insurer shall:
1. Be a participating insurer in the rating organization; and
2. File its loss cost multiplier using the Reference Filing Adoption Form (as set forth in Appendix Exhibit D to this subchapter and incorporated herein by reference). An insurer's loss cost multiplier shall be filed and become effective in accordance with 17:29A-1 et seq., 17:33B-31, and applicable provisions of N.J.A.C. 11:3-16 and 18. An insurer's final rates shall be a combination of the prospective loss costs and the loss cost multiplier.
i. An insurer may file modifications to the rating organization's approved prospective loss cost filing based on its own anticipated experience by using the Reference Filing Adoption Form. Supporting documentation shall be filed for any modification (upwards or downwards) to the rating organization's prospective loss cost filings. Supporting documentation must comply with 11:3-16.3(k).
ii. An insurer's loss cost multiplier shall remain in effect until the insurer revises the multiplier in accordance with 17:29A-14 and applicable provisions of N.J.A.C. 11:3-16 and 18.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 16 - RATE FILING REQUIREMENTS: VOLUNTARY MARKET PRIVATE PASSENGER AUTOMOBILE INSURANCE › Appendix - APPENDIX › Exhibit B

Current through Register Vol. 56, No. 14, July 15, 2024
Latest
Year
Latest
On-Level
Year
Percentage
Dollar
Earned
Earned
Change
Effect
Exposures
Premium
Bodily Injury
Limitation
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No Limitation
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Property Damage
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Personal Injury
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Protection
Uninsured
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Motorists
Limitation
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No Limitation
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________
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________
Total Liability
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Comprehensive
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________
________
Collision
________
________
________
________
Total Physical
________
________
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Damage
Overall Total
________
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________
Percentage
Dollar
Expense Fees
Current
Proposed
Change
Effect
Single Limit
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________
________
________
Liability
Bodily Injury
________
________
________
________
Property Damage
________
________
________
________
Personal Injury
________
________
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Protection
Comprehensive
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Collision
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New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 16 - RATE FILING REQUIREMENTS: VOLUNTARY MARKET PRIVATE PASSENGER AUTOMOBILE INSURANCE › Appendix - APPENDIX › Exhibit D

Current through Register Vol. 56, No. 14, July 15, 2024
Date of filling out form: ____________________________________
NEW JERSEY INSURER RATE FILING
ADOPTION OF RATING ORGANIZATION
PROSPECTIVE LOSS COSTS
REFERENCE FILING ADOPTION FORM
PRIVATE PASSENGER AUTOMOBILE
1. INSURER NAME ____________________________________
ADDRESS ____________________________________
____________________________________
PERSON RESPONSIBLE FOR FILING ____________________________________
TITLE ______________________________________________ TELEPHONE _______________________________
2. INSURER GROUP NAIC # __________________________________________________________________________
2A. INSURER COMPANY NAIC # _______________________________________________________________________
3. LINE OF INSURANCE _____________________________________________________________________________
4. RATING ORGANIZATION _________________________________________________________________________
5. RATING ORGANIZATION REFERENCE FILING # _____________________________________________________
6. The above insurer hereby declares that it is a member, subscriber or service purchaser of the named rating organization for this line of insurance. The insurer hereby files to be deemed to have independently submitted as its own filing, the prospective loss costs in the captioned Reference Filing.
7. PROPOSED RATE LEVEL CHANGE _______________% EFFECTIVE DATE _____________________________
8. PRIOR RATE LEVEL CHANGE____________________% EFFECTIVE DATE _____________________________
9. ATTACH "FILING ADOPTION FORM" FOR EACH INSURER IF SELECTED LOSS COST MULTIPLIER IS DIFFERENT.
** The filed Loss Cost Level Change Factor for the initial filing is the Ratio of the Revised Loss Costs to Current Rates divided by the Deviation which the insurer applied to the Current Rates (expressed as a decimal); and for subsequent filings, the Ratio Loss Cost Level to Current Loss Cost Levels.
Insurer Name: ________________________________ Date of filling out form: ____________
NAIC #Group: _____________ Company: _______________
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 16 - RATE FILING REQUIREMENTS: VOLUNTARY MARKET PRIVATE PASSENGER AUTOMOBILE INSURANCE › Appendix - APPENDIX › Exhibit E

Current through Register Vol. 56, No. 14, July 15, 2024
Calculation of Maximum on Combined Commission and Brokerage, Other Acquisition Expense and General Expenses
The maximum allowed expense provision for commission and brokerage, other acquisition, and general expenses shall be calculated as a weighted average, plus five percent of the provision for all private passenger automobile companies or groups in this State that use the same marketing method as the filer, excluding the results of insurance carriers with membership requirements. The Department may, in its discretion, also exclude the expenses of carriers that are newly admitted and writing business in the State due to the potential distortion in the expenses of such carriers, including the effect of start-up costs.
The Department will compile the list of private passenger automobile companies or groups on May 31 of each year based on the most recent annual premium volume.
The companies and groups on the list shall be divided into one of the three marketing methods: (1) Independent Agents; (2) Captive Agents; or (3) Direct Writers. The designation of marketing method shall be based on the primary designation for the company or group in the A.M. Best Report (Property/Casualty). The list shall be posted on the Department's web site and made available to filers on request.
The provision for commission and brokerage expense shall be calculated by the Department as a percentage of New Jersey written premium, as stated on New Jersey Page 14 of the Statutory Annual Statement for each company or group used in the calculation. The provision for general and other acquisition expense shall be calculated by the Department as a percentage of countrywide earned premium, as stated on Part 3 of the Insurance Expense Exhibit for each company or group used in the calculation. The maximum allowed expense provision, calculated by group of coverages (liability, risks, physical damage), shall be the weighted average of the total commission and brokerage, other acquisition, and general expense provisions for each company within each marketing method, plus an additional five percent.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 16A - PRIVATE PASSENGER AUTOMOBILE INSURANCE TERRITORIAL RATING PLANS › Section 11:3-16A.1 - Purpose and scope

Current through Register Vol. 56, No. 14, July 15, 2024
(a) This subchapter sets forth the standards and requirements for the establishment of territory maps by insurers, rating organizations, and the Automobile Insurance Territorial Rating Plan Advisory Commission, pursuant to 17:29A-48 et seq. and 17:29A-36, and for the amendments to rating plans by insurers and rating organizations.
(b) This subchapter applies to all insurers that are licensed and authorized to transact personal private passenger automobile insurance in the voluntary market, rating organizations and the Automobile Insurance Territorial Rating Plan Advisory Commission.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 16A - PRIVATE PASSENGER AUTOMOBILE INSURANCE TERRITORIAL RATING PLANS › Section 11:3-16A.2 - Definitions

Current through Register Vol. 56, No. 14, July 15, 2024
The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise.
"Basic automobile insurance policy" or "basic policy" means a private passenger automobile insurance policy issued in accordance with 39:6A-3.1 and N.J.A.C. 11:3-3.
"Commission" means the Automobile Insurance Territorial Rating Plan Advisory Commission established pursuant to 17:29A-50.
"Commissioner" means the Commissioner of the New Jersey Department of Banking and Insurance.
"Common territory map" means the territory map filed by the Commission and approved by the Commissioner or, where no map filed by the Commission is approved, a substitute map certified by the Commissioner.
"Department" means the New Jersey Department of Banking and Insurance.
"Exposure" means one car insured for property damage liability coverage in a Basic or Standard policy for a period of 12 months.
"Filer" means a rating organization or any insurer making its own rates.
"Insurer" means an entity or affiliated group of entities authorized or admitted to transact personal private passenger automobile insurance business in this State.
"PAIP" means the New Jersey Personal Automobile Insurance Plan established in accordance with 17:29D-1 et seq.
"PIP coverage" means personal injury protection coverage as described in 39:6A-4 or 39:6A-3.1.
"Rating organization" means an entity licensed as a rating organization pursuant to 17:29A-2.
"Standard automobile insurance policy" or "standard policy" means a private passenger automobile insurance policy issued in accordance with 39:6A-4.
"State border" means the land or water border between New Jersey and New York State, Pennsylvania, Delaware, the Atlantic Ocean, Raritan Bay or Delaware Bay.
"Territory map" means a list of territories defined by zip code and a representation of the territories on a map of New Jersey pursuant to 11:3-16A.4(a).
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 16A - PRIVATE PASSENGER AUTOMOBILE INSURANCE TERRITORIAL RATING PLANS › Section 11:3-16A.3 - General requirements

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Every insurer, including the PAIP, shall have an approved territorial rating plan, which shall include a territory map, territorial relativity factors and territorial base rates that are in accordance with the provisions of 17:29A-48 et seq. and 17:29A-36, and this subchapter.
1. Insurers shall use the same territory map for basic and standard policies.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 16A - PRIVATE PASSENGER AUTOMOBILE INSURANCE TERRITORIAL RATING PLANS › Section 11:3-16A.4 - Standards for establishment of territories

Current through Register Vol. 56, No. 14, July 15, 2024
(a) A territory shall be a geographic area of the State defined by contiguous zip codes, that follow municipal boundaries as closely as possible. If a zip code crosses a municipal boundary that forms a territorial boundary, the filer shall place the zip code entirely in one territory. Filers shall report statistical data by zip code.
(b) Each territory shall border on at least two other territories, or one territory and a State border.
(c) In establishing the common territory map, the Commission shall use data representing the largest available compilation from insurers. A rating organization that files a territory map shall use the combined data of its subscribers. An insurer filing its own territory map shall use its own data, or other relevant industry data that may be available for its use, or any combination of the two. The territory map filing shall include an explanation of any adjustments or weighting of the raw data used.
(d) In order to create an equable distribution of exposures throughout the State, each territory shall be comprised of no less than 20,000 exposures for one year. The exposure count shall be based on data used by the Commission to determine the common territory map. The maximum number of territories in any territorial map shall not exceed 50 territories.
(e) No territorial rating plan shall result in territories that are arbitrary, unfairly discriminatory, or created in a manner that is primarily for marketing purposes rather than measuring relativity of exposure to probable loss, or created in a manner that can be used to avoid the filer's obligations under 17:33B-15.
New Jersey Administrative Code › Title 11 - INSURANCE › Chapter 3 - AUTOMOBILE INSURANCE › Subchapter 16A - PRIVATE PASSENGER AUTOMOBILE INSURANCE TERRITORIAL RATING PLANS › Section 11:3-16A.5 - Territorial rating plan filing requirements

Current through Register Vol. 56, No. 14, July 15, 2024
(a) An insurer's filing shall indicate which of the maps permitted by 11:3-16A.3(b)  it intends to use. The filing shall be submitted on 3 1/2 inch diskette, zip disk or CD, and in hard copy.
(b) Filers shall provide the following New Jersey direct data by coverage and by zip code for basic and standard policies:
1. Not less than three-year:
i. Basic or total limits incurred losses, net of subrogation and other recoveries. Total limits losses may include PIP losses subject to reimbursement pursuant to N.J.S.A. 17:30A-8a(11);
ii. Paid or incurred allocated loss expenses;
iii. Earned exposures;
iv. Incurred claims; and
v. Average rating factors (for filers submitting on a pure premium methodology);