N.J. Admin. Code § 11:3-16B.6

Current through Register Vol. 56, No. 23, December 2, 2024

Section 11:3-16B.6 - Review; general principles; action

(a) If the Commissioner determines that the filing includes all the information and calculations required to support the rate change, then the Commissioner shall approve the filing.

(b) A filing will be deemed submitted when it is received by the Department's Property and Casualty Office and is accompanied by:

1. All the documents, exhibits and calculations required by this subchapter.

2. In those cases where, due to their small size and/or lack of historical experience, filers are unable to fulfill completely all of the data submission requirements set forth in this subchapter, such filers shall be required to submit as much required information as they are able to supply, and each filing shall be reviewed accordingly. The Department's review of, and decision, on any such filing are not governed by the time frames in (d) below, but instead will be subject to the time frames set forth in 11:3-18.4.

(c) After a filing has been submitted in accordance with (b) above, the Department, within 20 days of receipt, shall conduct a preliminary review to determine if it is in compliance with 17:29A-46.6 and this subchapter. If the filing is in compliance, it shall be deemed complete by the Department. If a filing is not in compliance, the filer will be notified of deficiencies in the filing within 20 days of receipt. If the filer is not notified of deficiencies within 20 days of receipt, it shall be deemed complete and is under review.

(d) Unless extended as provided in N.J.S.A. 17:29A-46.6d, the Commissioner shall render a decision on a filing requesting an increase of up to three percent within 30 days after receipt of the filing and shall render a decision on a filing requesting an increase of more than three percent, but no more than seven percent overall, within 45 days after receipt of the filing. These time frames are subject to the exceptions found in 11:3-16B.4(c)5, (d)5, (k) or (b)2 above.

(e) The Commissioner, pursuant to (a) above and N.J.S.A. 17:29A-46.6d, shall render one of the following determinations on the filing:

1. Approve the rate change filing as filed;

2. Disapprove the rate change filing; or

3. Approve a modified rate change filing.

(f) In the event additional time is needed to act on a complete rate change filing, the Commissioner may extend the time periods for review specified in (d) above by no more than 15 days.

(g) A disapproval or modification of the filing by the Commissioner shall be considered a final agency decision in accordance with the Administrative Procedure Act, 52:14B-1 et seq.

(h) If a filer has a pending application for prior approval rate change submitted in accordance with 11:3-16.6, the filer shall promptly amend such pending filing to reflect any rate change approved in accordance with this subchapter.

(i) If a filer has a pending application for a limited rate change pursuant to this subchapter, the filer shall promptly amend such pending filing to reflect any rate change approved in accordance with 11:3-16.6.

N.J. Admin. Code § 11:3-16B.6

Amended by R.2003 d.500, effective 12/15/2003.
See: 35 N.J.R. 3093(a), 35 N.J.R. 5611(a).
Rewrote the section.
Amended by R.2007 d.179, effective 6/4/2007.
See: 38 N.J.R. 4161(a), 39 N.J.R. 2260(b).
In (b)1, substituted a period for "; and" at the end; and rewrote (b)2 and (d).