17:29AA-9. Rates; factors in establishment
60 words·~1 min read·
/nj/17-18A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In making rates, due consideration shall be given to: past and prospective loss experience, including where pertinent, the conflagration and catastrophe hazards, if any, both within and without the State; all factors reasonably related to the kind of insurance involved; a reasonable profit for the insurer; and, in the case of participating insurers, policyholders' dividends.
L.1982, c. 114, s. 9.