The New Jersey Department of Banking and Insurance (via SERFF) has requested that all insurance companies withdraw any pending rate filings. The request is in response to COVID-19 and due to public interest concerns. The NJDOBI advised that any new rate filings will be rejected. The prohibition does not apply to rate filings where ALL POLICYHOLDERS receive rate decreases. The NJDOBI will reevaluate its position on rate filings at an unknown, future date.
For any questions regarding rate filings, please contact Westmont Associates, Inc.