N.J. Admin. Code § 11:3-16.3

Current through Register Vol. 56, No. 21, November 4, 2024

Section 11:3-16.3 - General requirements and filing format

(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.

(c) All filings shall be submitted to the Department through the use of the NAIC electronic filing system SERFF (System for Electronic Rate and Form Filing).

(d) All filings shall be accompanied by the following certification signed by an officer of the filer: "I ______ certify that the attached filing complies with all statutory and regulatory requirements and that all the information it contains is true and accurate. I further certify that I am authorized to execute this certification on behalf of the filer."

(e) All data shall be reported on a direct basis exclusive of business ceded to reinsurers or reinsurance assumed from other companies.

N.J. Admin. Code § 11:3-16.3

Emergency Amendment, R.1990 d.621, effective 11/26/1990 (expired January 25, 1991).
See: 22 N.J.R. 3790(a).
Provisions added to confirm that rate filings should contain only voluntary market data and not include data from risks that may be insured through the assigned risk plan to be instituted pursuant to section 34 of the Act.
Adopted Concurrent Proposal, R.1991 d.91, effective 1/25/1991.
See: 22 N.J.R. 3790(a), 23 N.J.R. 514(a).
Provision of emergency amendment, R.1990 d.621, readopted with changes effective 2/19/1991.
Amended by R.1996 d.58, effective 2/5/1996.
See: 27 N.J.R. 3682(a), 28 N.J.R. 855(a).
Deleted requirement to send filings to the Public Advocate.
Amended by R.1998 d.128, effective 3/2/1998.
See: 29 N.J.R. 5240(a), 30 N.J.R. 828(a).
In (a), deleted the former fourth and fifth sentences; in (d), changed the mailing address; deleted former (i); recodified former (j) as (i); recodified former (k) as (j), and substituted "prior approval rate or lost cost" for "rate" in the first sentence; and added new (k) and ( l).
Amended by R.2001 d.44, effective 2/5/2001.
See: 32 N.J.R. 3891(a), 33 N.J.R. 573(a).
Amended by R.2002 d.101, effective 4/1/2002.
See: 33 N.J.R. 1875(a), 34 N.J.R. 1431(b).
Rewrote (e).
Amended by R.2003 d.173, effective 5/5/2003.
See: 34 N.J.R. 3475(a), 35 N.J.R. 1907(a).
In (g), added "A total of three copies shall be submitted." at the end of the paragraph.
Amended by R.2003 d.499, effective 12/15/2003.
See: 35 N.J.R. 3084(a), 35 N.J.R. 5604(a).
In (i), deleted reference to the transactions with UCJF.
Amended by R.2005 d.176, effective 6/6/2005.
See: 36 N.J.R. 5640(a), 37 N.J.R. 2026(a).
Rewrote the section.
Amended by R.2007 d.91, effective 4/2/2007.
See: 38 N.J.R. 4976(b), 39 N.J.R. 1313(a).
Rewrote (d).
Amended by R.2008 d.380, effective 12/15/2008 (operative January 1, 2009).
See: 40 N.J.R. 3572(a), 40 N.J.R. 6970(b).
In (b)1 and (b)2, substituted "acceptance criteria" for "underwriting guidelines"; and in (b)2, inserted a comma after "group".
Amended by R.2009 d.190, effective 6/15/2009.
See: 41 N.J.R. 365(a), 41 N.J.R. 2486(a).
Rewrote (c); deleted former (d); and recodified former (e) and (f) as (d) and (e).