FROM: KAREN L. SUTER, COMMISSIONER
RE: ANNUAL PREMIUM SURVEY: N.J.A.C. 11:3-45
Appendix #1 is a copy of the survey information from which the sample premiums shall be calculated. There are seven survey examples with variations, and each of the sample premiums should be calculated for each rating territory. Appendix #2 is a copy of the approved survey certification form that should be completed and signed by a corporate official attesting to the accuracy of the rates.
Appendix #3 is a copy of the worksheet that shows the insurerís total premiums by example (see Appendix # 1) and by territory.
Appendix #4 is a worksheet that shows the insurerís calculations used to obtain the various coverages and the total premium for each example (Appendix #1) using Territory 2 (Newark); Territory 15 (Trenton Suburban) and Territory 40 (New Brunswick). Each Appendix #4 worksheet should identify the tier in which the risk is placed and all assumptions used in making this placement.
Additional copies of this Bulletin, the criteria for rating examples and additional work sheets can be obtained from the Departmentís web page: www.njdobi.org.The completed survey (Appendix #2, #3 and # 4) should be filed with the Department on or before October 15, 2001 and should reflect annual premiums that are effective for new business as of October 1, 2001. The filing should be sent to:
E-Mail Address: email@example.com
9/20/01 /s/ Karen L. Suter Commissioner