The Property and Casualty Section of the Department of Banking and Insurance is charged with the regulation of rates, rules and forms for property and casualty insurance. The section regulates personal, commercial and title insurance sold in the state. The rate and rule review process ensures that companies charge rates which are adequate to pay claims while not being excessive. The policy form review guarantees that the policy forms comply with statutes, regulations and departmental guidelines.
The section does not quote or sell personal, commercial or title insurance to the public.
NOTE: The fees portion of this order were subsequently rescinded.
All commercial motor vehicles registered or principally garaged in New Jersey are mandated by law to maintain automobile liability insurance, N.J.S.A. 39:6B et seq. Commercial auto coverage may be obtained on a voluntary basis or through a licensed producer certified by the New Jersey Auto Insurance Plan.
Commercial automobile voluntary submissions are subject to the Deregulation Act of 1982, N.J.S.A. 17:29AA-1 et seq.
Rate/rule submissions are subject to N.J.S.A. 17:29AA-5 and N.J.A.C. 11:13-8.1, Use and File within 30 days. Form submissions are subject to N.J.S.A. 17:29AA-6, File and Use 30 days prior to use.
Established January 1, 1984 under N.J.S.A. 17:29D-1 and implemented by N.J.A.C. 11:3-1.2, to provide coverage for a commercial automobile risk unable to obtain coverage in the voluntary market.
Rates, rules and forms are subject to prior approval by the Commissioner before being implemented.
CAIP may be contacted at:
Telephone: 1 (800) 827-6302 or (856) 722-0030
Commercial lines submissions are processed in accordance with the Commercial Lines Deregulation Act, N.J.S.A. 17:29AA-1 et seq. and N.J.A.C. 11:13 et seq.
Rates/Rules are subject to N.J.S.A. 17:29AA-5 and N.J.A.C. 11:13-8.1, Use and File within 30 days.
Forms are subject to N.J.S.A. 17:29AA-6, File and Use 30 days prior to becoming effective.
There exists certain commercial lines which are exempt from the Department of Banking and Insurance filing requirements. These items are contained on the Commissioner's Special Risks List, Bulletin 95-5 and the Commissioner's Exportable List , N.J.A.C. 11:1-34.6. Each year end, a hearing is held to discuss the exportable list contents. Additions and/or deletions to the list occur as a result of these annual hearings.
All private passenger vehicles are mandated by law to maintain automobile liability insurance, N.J.S.A. 39:6A et seq. Personal auto coverage may be obtained on a voluntary basis or through the New Jersey Automobile Insurance Plan.
Rates, Rules and Forms are subject to prior approval by the commissioner and must be filed in accordance with N.J.S.A. 17:29A et seq. Voluntary writers are subject to and must file rating plans incorporating:
|PPA Prior Approval Rate Changes Checklist N.J.A.C. 11:3-16
|Limited Auto Rate Filing Calculations for PPA Rate Changes N.J.A.C. 11:3-16B|
Calculation of Maximum Expenses for Prior Approval/Limited Auto Rate Filings
Rates, rules and forms must be approved by the commissioner before being implemented.
PAIP may be contacted at:
Telephone: 1 (800) 652-2471 or (856) 722-0030
All Personal Lines Other Than Auto rates, rules and policy forms are subject to New Jersey's Prior Approval Laws. Coverages included under personal lines other than auto are: homeowners, inland marine, pet, umbrella, credit, involuntary unemployment and title insurance.
Rates, rules and forms are subject to N.J.S.A.17:29A et seq. Other significant statutes and regulations are listed below:
NJ DOBI is now accepting all property/casualty personal lines filings through SERFF. Detailed information about SERFF (System for Electronic Rate and Form Filing) can be found on the SERFF Web site.
Property and Casualty insurers are required by law to prepare and submit extensive statistical reports to assist the Department with its regulatory obligations.
N.J.S.A. 29A-5 requires companies to report their statistics to approved statistical agents using approved statistical plans. The statistical agents compile and report the combined data to the Department by line of insurance at least annually.
N.J.S.A. 17:29A-5.6 requires private passenger auto writers to file an Excess Profits Report on July 1.
Order A93-104 requires private passenger auto writers to report semi-annually the in-force exposures in the voluntary and residual (PAIP) markets.
Order A89-118 requires private passenger auto writers to supply quarterly in-force exposure reports by territory for the voluntary and residual (PAIP) private passenger auto markets.
Licensed companies must first file on a prior approval basis for both commercial, personal and title, a complete rating system of rates, rules and forms before providing coverage in New Jersey. Companies may submit the rating systems directly to the Department or have them filed on their behalf by a rating/advisory organization. N.J.S.A. 17:29A-3 details the method for becoming a member of a rating organization. Companies must receive notification from the Department of Banking and Insurance that they are authorized to use the filed rating system before writing insurance.
Requests for public property/casualty records, other than in accordance with the Open Public Records Act, must be made in writing and sent to the attention of:
It is the policy of the Department to provide photocopying capability to the general public in accordance with N.J.S.A.47:1A-2 rev. 1991. The cost is as follows:
N.J.A.C. 11:1-32, Fees and Special Purpose Apportionment provides as a new fee the cost to the Department for researching, retrieving and compiling public records at the actual staff time rounded to the nearest quarter hour at the rate of $50.00 per hour. This type of request may involve voluminous or historical files in connection with litigation which represent an extraordinary cost to the Department. The Department may require a deposit not to exceed the estimated cost prior to commencing work.
For more information, you may contact Ms. Brown at (609) 984-7310 extension 50343 or fax requests to (609) 777-0019.