N.J. Admin. Code § 11:2-42.1

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

Section 11:2-42.1 - Purpose and scope

(a) This subchapter sets forth the expedited process for a homeowner's insurer or rating organization to file changes to its rating system; sets forth the uniform policy language that may be used with respect to hurricane deductibles; and sets forth information that shall be included in notices provided to insureds by insurers regarding hurricane deductibles, pursuant to N.J.S.A. 17:36-5.33 to 5.36.

(b) This subchapter shall apply to all insurers writing or transacting homeowner's insurance in this State, rating organizations, and the FAIR Plan.

(c) This subchapter shall apply only to base rate changes by form, territorial relativity factors, deductible relativity factors, protection/construction class relativity factors, amount of insurance relativity factors, liability rates and associated liability increased limit factors, and minimum premiums.

N.J. Admin. Code § 11:2-42.1

Amended by 50 N.J.R. 899(b), effective 2/20/2018