§431:14-101.5  Definitions.  As used in this article, unless the context otherwise requires:

     "Developed losses" means losses (including loss adjustment expenses) adjusted, using standard actuarial techniques, to eliminate the effect of differences between current payment or reserve estimates and those needed to provide actual ultimate loss (including loss adjustment expense) payments.

     "Expenses" means that portion of a rate attributable to acquisition, field supervision, collection expenses, general expenses, taxes, licenses, and fees; provided that no tax credit received by any insurer under section 431:7-207 shall reduce the expenses of the insurer for purposes of determining the insurer's rate under this article for the first year of any insurer's rate which is approved pursuant to this article and for which the insurer submits before July 1, 1993, a filing pursuant to the applicable sections of this code to modify the rate in existence on June 30, 1992.

     "Loss trending" means any procedure for projecting developed losses to the average date of loss for the period during which the policies are to be effective.

     "Prospective loss costs" means that portion of a rate that does not include provisions for expenses (other than loss adjustment expenses) or profit, and are based on historical aggregate losses and loss adjustment expenses adjusted through development to their ultimate value and projected through trending to a future point in time.

     "Rate" means that cost of insurance per exposure unit whether expressed as a single number or as a prospective loss cost with an adjustment to account for the treatment of expenses, profit, and individual insurer variation in loss experience, prior to any application of individual risk variations based on loss or expense considerations, and does not include minimum premium.

     "Supplementary rating information" includes any manual or plan of rates, classification, rating schedule, minimum premium, policy fee, rating rule, underwriting rule, statistical plan, and any other similar information needed to determine the applicable rate in effect or to be in effect.

     "Supporting information" means:

     (1)  The experience and judgment of the filer and the experience or data of other insurers, rating organizations, or advisory organizations relied on by the filer;

     (2)  The interpretation of any other data relied upon by the filer; and

     (3)  Descriptions of methods used in making the rates, and any other information required by the commissioner to be filed. [L 1990, c 255, §1; am L 1992, c 236, §8]