N.J. Admin. Code § 11:1-2.3

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

Section 11:1-2.3 - Filing of changes

(a) Filings containing changes in rates, rules, plans and forms previously approved for the filer shall be presented in the following fashion:

1. A copy of the page or pages containing the passage for which a change is proposed shall be filed in such form that the text is self-contained without need to refer to material not included in the filing. Matter to be changed or omitted by the filing shall be identified, preferably by marking the passages to be changed with a marking pencil; where matter is to be added, a mark (caret) shall so indicate.

2. A memorandum shall be filed reciting the rule or section of form to be changed, properly referenced as to the manual or form, with newly added matter underlined and matter to be eliminated in brackets [] or a side by side comparison indicating the proposed changes.

(b) An explanatory note shall state the reason or purpose for the proposed change including any statistical support, and a calculation or estimate of the effect of the change on premiums and/or losses shall be submitted:

1. Filings of proposed rate changes must contain all information upon which the rate filer relies, including past and prospective loss and expense experience, and due consideration must be given to investment income from unearned premium and loss reserves in any proposed profit provision in the rates.

N.J. Admin. Code § 11:1-2.3

Amended by R.1975 d.34, effective 2/19/1975.
See: 7 N.J.R. 9(b), 7 N.J.R. 115(a).
Recodified from N.J.A.C. 11:1-2.2 and amended by R.2002 d.101, effective 4/1/2002.
See: 33 N.J.R. 1875(a), 34 N.J.R. 1431(b).
In (a)2, added "or a side by side comparison indicating the proposed changes." Former N.J.A.C. 11:1-2.3, Adoption of rules and forms approved for other filers, recodified to N.J.A.C. 11:1-2.4.