N.J. Admin. Code § 11:13-6.1 - Purpose and scope

(a) This subchapter establishes standards for commercial insurance rating plans to modify rates in the development of premiums for specific risks.

(b) These standards are intended to:

1. Recognize expected loss differentials based on factors applied using sound underwriting principles;

2. Promote competition among insurers in the rating of individual commercial risks;

3. Promote fair and equitable treatment of insureds; and

4. Encourage loss control and safety measures.

(c) This subchapter applies to all insurers and rating organizations or advisory organizations that file rates for commercial lines insurance.

Notes

N.J. Admin. Code § 11:13-6.1

Amended by R.2003 d.21, effective 1/6/2003.
See: 34 N.J.R. 2947(a), 35 N.J.R. 252(a).
In (c), inserted "or advisory organizations" following "rating organizations".