N.J. Admin. Code § 11:27-7.4

Current through Register Vol. 57, No. 1, January 6, 2025

Section 11:27-7.4 - Data requests

(a) The Department shall request that insurers and other entities providing medical malpractice liability insurance in this State provide the following information with respect to data as of December 31, 2004, 2005 and 2006:

1. The company's base rates (based on $ 1 million/$ 3 million limits). The rates should be provided for each rating tier (for example, preferred, standard, etc.), each policy form (occurrence, claims-made), and by each specialty and subspecialty;

2. The company's in-force exposures, by policy form, by rating tier, and by specialty and subspecialty, for all limits combined;

3. The company's average written premiums, including all factors, surcharges, discounts, etc., per exposure by policy form, by rating tier, by specialty and subspecialty; and

4. Such other data from an insurer or other entity as the Commissioner may conclude is necessary in order to determine the class or classes of specialties or subspecialties which will be eligible for a subsidy and the amount of any qualifying premium and professional liability funding obligation increase or increases as referenced in N.J.A.C. 11:27-7.5(a) and (b).

(b) For purposes of complying with the data request, the following instructions shall apply. For base rates, the claims-made rates are for mature claims-made only. For claims-made exposures and average premiums, companies should show the exposures and average premiums for all claims-made steps combined. For all base rates, exposures, and average premiums, companies should provide the specialties and subspecialties by name, company class code, and Insurance Services Office (ISO) class code.

(c) The requested information should be provided electronically on Excel spreadsheets in a form provided by the Department and available on the Department's website at www.state.nj.us/dobi/data/njmedmal survey.xls no later than 30 days after the Department's request for the data or the end of the relevant reporting period, whichever is later, and sent to MMLIPA @dobi.state.nj.us.

N.J. Admin. Code § 11:27-7.4