P&CNJeasy
Under N.J.S.A. 17:29A-46.1, what rate regulatory regime applies to private passenger automobile insurance in New Jersey?
AFile-and-use without DOBI review
BNo regulation — open competition with no filing or approval required
CRates set directly by the Governor's office
Prior approval by the Commissioner of Banking and Insurance
Why this is the answer
Unlike most P&C lines that follow file-and-use under N.J.S.A. 17:29A-15, private passenger auto rates in NJ require prior approval. An insurer cannot use a private passenger auto rate until the Commissioner of Banking and Insurance has affirmatively approved the filing. DOBI is not bypassed, there is no open competition for auto rates, and the Governor plays no role.
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