NEW JERSEY
Status report on compliance with the
Terrorism Risk Insurance Act of 2002
and related state regulatory policies

Regarding "certified" commercial losses
For an act of terrorism to be certified by the U.S. Secretary of the Treasury (and thus trigger coverage under the federal Terrorism Reinsurance Program), it must cause more than $5 million in losses and be inspired, directed, and/or carried out on behalf of a foreign person or interest.

NEW AND RENEWAL BUSINESS 
Posting date: 12/8/03, 1/5/04, 6/4/04

AAIS commercial lines programs filed on behalf of companies

AAIS endorsement used when coverage is provided under the federal Terrorism Insurance Program

Rating factor to accompany coverage endorsement

AAIS endorsement used when insured declines terrorism coverage
(New and Renewal Policies Only)

Fire following rating factor for SFP states 
Farm Properties

FL 0600 01 04

 .0275 FL 0620 01 04

.0096
Farmowners

FO 0600 01 04

 .0275 FO 0620 01 04

.0069
Personal & Premises Liability (Farm Only)

GL 0310 01 04

 .0225 GL 0320 01 04

N/A
AAIS Effective Date: 1/1/04
AAIS Filing Number(s): AAIS-2003-62 State File No.: 03-2957
Company action:

Endorsements
Companies that have granted AAIS filing authority for forms and endorsements can adopt the endorsements without notifying the insurance department.

Rating Information
Companies that have granted AAIS filing authority for rating information can adopt the rating information without notifying the insurance department if they intend to use it without change.

However, companies that choose to depart from the AAIS filed rating information must notify the insurance department in writing as soon as possible.

Separate Line Item Disclosure Endorsement (CL 0605 02 03)

AAIS Filing No.: AAIS-2003-3; State File 03-0389

Effective Date: 2/11/03

Company Action:

Affiliated companies can adopt the endorsement, as filed, without taking any filing action.

Posting date: 11/12/03, 6/4/04      

AAIS commercial lines advisory filings

AAIS endorsement used when coverage is provided under the federal Terrorism Insurance Program

Rating factor to accompany coverage endorsement

AAIS endorsement used when insured declines terrorism coverage

Fire following rating factor for SFP states 
Farm Umbrella

UM 0330 01 04

Refer to company

UM 0340 01 04

N/A
AAIS Advisory Effective Date: 1/1/04
AAIS Filing Number(s): Not Applicable  
Company action: Farm Umbrella is a deregulated line of insurance in New Jersey. As such, companies are not required to submit either form or rating information filings.

Separate Line Item Disclosure Endorsement (CL 0605 02 03)

AAIS Filing No.: Not Applicable -- Umbrella filings not required due to deregulated status

State Filing No.: Not Applicable -- Umbrella filings not required due to deregulated status

Effective Date: 2/11/03

Company Action:

Affiliated companies can adopt the endorsement, as filed, without taking any filing action.

 

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