The Short Rate Calculator uses an algorithm to calculate an estimate of the Short Rate Penalty Premium, assigned to statistical code 0931, when a policy is cancelled short rate by the Insured in accordance with Rule 3:3-80 in the Manual.
The Short Rate Calculator requires user input and does not retrieve proprietary policy information from the Bureau’s information systems. Nor does it compute a Final Premium or accept multiple experience modifications within a policy period.
To ensure accurate calculations, please check your policy and manually input the required data.
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