N.J. Admin. Code § 11:3-16A.3

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

Section 11:3-16A.3 - General requirements

(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 N.J.S.A. 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.

(b) The territory map in the insurer's territorial rating plan shall be one of the following:

1. The common territory map;

2. The territory map approved by the Commissioner for the rating organization of which the insurer is a member; or

3. An individual territorial plan developed by the insurer and approved by the Commissioner in accordance with this subchapter.

N.J. Admin. Code § 11:3-16A.3