11 NCAC 16 .0108             SINGLE OR DUAL INTEREST AUTOMOBILE PHYSICAL DAMAGE INSURANCE

To fulfill the requirements of General Statute 58‑57‑100(b), all writers of North Carolina Single or Dual Interest Automobile Physical Damage Insurance shall by April 1 of each year submit the following data described in this Rule for each of the latest five calendar years on a direct basis to the Actuarial Services Division.  (Note:  If a company does not currently collect any data required by this Rule, that company shall commence as of the effective date of this Rule to collect such data prospectively.)

(1)           North Carolina premium, loss, and expense:

(a)           Written premium and car year exposures;

(b)           Earned premium and car year exposures;

(c)           Paid losses and claims;

(d)           Incurred losses and claims;

(e)           Paid loss adjustment expense;

(f)            Incurred loss adjustment expense;

(g)           Incurred commissions and brokerage expenses;

(h)           Incurred other acquisition costs;

(i)            Incurred premium taxes;

(j)            Other incurred expenses;

(k)           Incurred loss and loss adjustment expense ratio;

(l)            Incurred loss, loss adjustment expense and other underwriting expense ratio;

(m)          Policyholder dividends paid.

(2)           Investment income on loss, loss expense, and unearned premium reserves:

(a)           Loss reserve at the beginning of the year;

(b)           Loss reserve at the end of the year;

(c)           Loss expense reserve at the beginning of the year;

(d)           Loss expense reserve at the end of the year;

(e)           Unearned premium reserve at the beginning of the year;

(f)            Unearned premium reserve at the end of the year;

(g)           Investment income earned on loss, loss expense, and unearned premium reserves.

(3)           Insured values:

(a)           Insured values for single interest insurance at the beginning of the year;

(b)           Insured values for single interest insurance at the end of the year;

(c)           Insured values for dual interest insurance at the beginning of the year;

(d)           Insured values for dual interest insurance at the end of the year.

(4)           Supplementary information:

(a)           Identification of the Page 14 Annual Statement line under which the experience is reported;

(b)           Explanations of any change in the amounts reported in Subparagraphs (1)(a), (1)(k) and (1)(l) of this Rule that is greater than 50 percent of the previous calendar year's value.

 

History Note:        Authority G.S. 58‑2‑40; 58‑57‑100;

Eff. September 1, 1991.