NAC686B.720. Requirements for filing of profitability reports.

     1. An insurer or group of insurers that is insuring more than 2,000 vehicles principally kept in this State must include a profitability report with all filings for an increase or decrease in rates.

     2. A profitability report must be in the form required by the Division and certified by an officer of the insurer as to its accuracy.

     3. The Division’s actuary may specify, where reserve charges are coded to a specific year, the years in which accidents have occurred, commonly referred to as “calendar accident years,” that the insurer must include in the profitability report.

     4. Unless otherwise required by the Commissioner, if an insurer has previously submitted a profitability report, the new report must include updated numbers for all calendar accident years in the previous report and all subsequent years in which accidents have occurred for a maximum reporting period of 10 years.

     5. The insurer and the Division’s actuary may agree to use the data from the fiscal year in which accidents occurred, commonly referred to as “fiscal accident year,” as the basis for the profitability reports.

     6. The Division’s actuary may specify that a profitability report filed by an insurer providing coverage for at least 60,000 vehicles principally kept in this State must include profitability by territory.

     (Added to NAC by Comm’r of Insurance, eff. 1-27-92; A 5-15-96)