N.J. Admin. Code § 11:3-20.7

Current through Register Vol. 56, No. 21, November 4, 2024

Section 11:3-20.7 - Determination of an excess profit

The existence of an excess profit shall be determined based upon calculations made in accordance with the Exhibits set forth in the Appendix to this subchapter for the seven calendar-accident years immediately preceding the date the excess profit report is due. An excess profit shall be deemed to exist when an insurer's total actuarial gain for all private passenger automobile coverages combined exceeds 2.5 percent of earned premium, or 3.85 percent on a pre-tax basis, using the Federal corporate tax rate of 35 percent.

N.J. Admin. Code § 11:3-20.7

Amended by R.1996 d.312, effective 7/15/1996.
See: 28 New Jersey Register 1616(a), 28 New Jersey Register 3627(b).
Amended by R.2002 d.386, effective 12/2/2002.
See: 34 New Jersey Register 1093(a), 34 New Jersey Register 4053(a).
Rewrote the section.
Amended by R.2004 d.97, effective 3/15/2004.
See: 35 New Jersey Register 3098(a), 36 New Jersey Register 1426(a).
Rewrote the section.