N.J. Admin. Code § 11:21-7A.4

Current through Register Vol. 56, No. 24, December 18, 2024

Section 11:21-7A.4 - Contents of the loss ratio report

(a) A loss ratio report filed pursuant to N.J.A.C. 11:21-7A.3 shall include the following information:

1. The reporting carrier's name and address;

2. The carrier's earned premiums, before dividends or credits applicable to prior years, and claims for the preceding calendar year, calculated pursuant to the instructions of Exhibit GG;

3. The carrier's loss ratio determined by dividing the claims by the premiums;

4. The carrier's calculation of the dividends and credits to be issued pursuant to N.J.S.A. 17B:27A-25g(2). (A credit is a dividend paid in the form of a reduction in a current premium due, as distinguished from dividends paid in cash.);

5. An explanation of the carrier's plan to issue dividends and credits;

6. An explanation of the carrier's plan to distribute a dividend in the event of cancellation or termination by a policyholder;

7. Certification by a member of the American Academy of Actuaries that the information provided in the report is accurate and complete and that the carrier is in compliance with the requirements of N.J.S.A. 17B:27A-25g(2), N.J.A.C. 11:21-7A and instructions; and

8. Such other information as the Department may request.

N.J. Admin. Code § 11:21-7A.4

Amended by R.1998 d.427, effective 8/17/1998.
See: 30 New Jersey Register 282(a), 30 New Jersey Register 3057(a).
In (a)2, substituted a reference to dividends for a reference to refunds, and added ", calculated pursuant to the instructions of Exhibit GG" at the end.