TO: ALL INSURERS AUTHORIZED TO TRANSACT PRIVATE PASSENGER AUTOMOBILE INSURANCE IN THIS STATE
FROM: HOLLY C. BAKKE, COMMISSIONER
RE: REPORTING FINANCIAL DISCLOSURE AND EXCESS PROFITS - EXHIBITS
N.J.S.A.17:29A-5.6 requires insurers authorized to transact private passenger automobile insurance in this State to file an excess profit report on or before July 1 each year. N.J.A.C. 11:-20 contains the rules and exhibits used in filing this report with the Department of Banking and Insurance. The purpose of this Bulletin is to inform insurers that errors existed in the spreadsheets contained in Exhibit Four of N.J.A.C. 11:3-20, adopted by the Department on October 29, 2002 (See 34 New Jersey Register 4053) and, until recently, displayed on the departmentís website. The Department in the near future will propose amendments to this Exhibit to correct the errors. Since February 22, 2003, the revised Excess Profits Exhibit spreadsheets have appeared on the Departmentís website at http://www.state.nj.us/dobi/division_insurance/ppareports.htm Ė (Auto Excess Profits).
Insurers who have any questions regarding the filing of these Exhibits may contact Matthew Burlew at (609) 984-7310 ext. 50318.
_3/4/03 _/s/ Holly C. Bakke
Date Holly C. Bakke