N.J.A.C. 11:2 — INSURANCE GROUP (Subchapter 1 to 43)

(a) The purpose of this subchapter is to establish the requirements and procedures by which insurers may undertake an orderly withdrawal from the business of insurance in this State, thereby preventing or minimizing adverse effects upon the insurer's policyholders; preventing or …

Notes N.J. Admin. Code § 11:2-29.10 Recodified to N.J.A.C. 11:2-29.9 by R.2008 d.220, effective 8/4/2008. See: 40 N.J.R. 1058(a), 40 N.J.R. 4595(a). Section was "Severability".

The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise: "Affiliate" means an insurer that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under…

(a) Any insurer seeking to withdraw shall file the informational filing and otherwise comply with the requirements set forth in N.J.S.A. 17:17-10 or 17:33B-30, as applicable. (b) Any insurer seeking to withdraw shall, as part of the informational filing required pursuant to N.J.S…

(a) An insurer may request a waiver of the one-year and 90-day waiting period for commencement of nonrenewals pursuant to N.J.S.A. 17:17-10b(2) or 17:33B-30a(2), a waiver of the requirement to send non-renewal notices no later than one year prior to the dates of the non-renewals …

(a) An insurer may utilize a replacement carrier for the business that will not be renewed, pursuant to N.J.S.A. 17:17-10d or 17:33B-30d, as applicable, subject to approval by the Commissioner. The Commissioner shall notify the insurer whether the replacement carrier is approved …

(a) A senior official of the company shall notify the Assistant Commissioner of the Office of Property and Casualty of the Department, in writing, in advance of the date certain that the first non-renewal notices will be mailed and specify therein the effective dates of the first…

(a) All data or information contained in the informational filing shall be confidential and shall not be considered a public record for purposes of the Open Public Records Act, N.J.S.A. 47:1A-1 et seq., with the exception of the following information, which are public records: 1.…

Failure to comply with this subchapter may result in the imposition of sanctions by the Department including, but not limited to, sanctions pursuant to N.J.S.A. 17:33-2. Notes N.J. Admin. Code § 11:2-29.8 Recodified from N.J.A.C. 11:2-29.7 by R.2005 d.111, effective 4/4/2005. See…

If any provision of this subchapter or its application to any person or circumstance is held invalid, such determination shall not affect other provisions or applications of this subchapter which can be given effect without the invalid provision or application, and to that end th…

All life insurance and all accident and health insurance sold in connection with consumer loans or other consumer credit transactions shall be subject to the provisions of this subchapter except that such insurance sold in connection with first mortgage loans made to individual b…

(a) Credit life and credit accident and health insurance coverage on balloon loans, that is, loans in which the periodic payments are insufficient to pay the loan so that the last payment is a balloon or large amount, shall be net coverage for credit life insurance. For credit ac…

(a) Insurers authorized to transact business in New Jersey pursuant to N.J.S.A. 17B:17-1 et seq. may not require applicants to purchase involuntary unemployment insurance in combination with credit life insurance and/or credit accident and health insurance. (b) Except as provided…

The insurer shall arrange with the creditor for the establishment of procedures for delivery of the individual policy or certificate of group insurance to the debtor upon the insurance becoming effective, or within 30 days of the date upon which the indebtedness is incurred and s…

(a) If an individual policy or certificate of group insurance is not delivered to the debtor at the time the indebtedness is incurred, a copy of the application for such policy or a notice of proposed insurance signed by the debtor shall be delivered to the debtor at the time suc…

No individual or group policy of credit life insurance or credit accident and health insurance shall be issued for delivery in this State, and no application, binder, endorsement, rider certificate of group insurance, notice of proposed insurance, or other form pertaining to cred…

(a) No credit life insurance or credit accident and health insurance shall be effected in this State on a debtor under a group policy, regardless of where or when issued, unless a certificate of group insurance or a notice of proposed insurance as required by N.J.A.C. 11:2-3.6 an…

(a) The Commissioner may disapprove any form filed with him pursuant to the provisions of N.J.A.C. 11:2-3.1 4 and 3.15 for the following reasons: 1. The benefits provided are not reasonable in relation to the premium charge; or 2. It contains provisions which are unjust, unfair, …

(a) The fact that standards are set forth in this section does not indicate that premium charges in excess of those standards will furnish cause for disapproval of policy forms, as described in N.J.A.C. 11:2-3.1 6. (b) The standards set forth in this section are derived from stud…

(a) Joint credit accident and health insurance covers two insured individuals who are jointly obligated in connection with an indebtedness and pays benefits in the event that either insured becomes disabled. Joint credit accident and health coverage is permitted on either a split…

(a) The amount collected from a debtor for credit life or credit accident and health insurance shall not exceed the premium charged by the insurer; provided, that if the amount collected from a debtor is determined in a single sum but the premium charged by the insurer is not, th…

The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise: "Commissioner" means the Commissioner of the Department of Banking and Insurance. "Credit accident and health insurance" means insurance…

(a) Each individual policy or group certificate of credit life insurance and credit accident and health insurance for which a payment is collected from the debtor shall provide that, in the event of termination of the insurance prior to the scheduled maturity date of the indebted…

(a) Each insurer writing credit life insurance and credit accident and health insurance shall maintain statistics, subject to call by the Commissioner from time to time, on a policy-year basis for group policies and on a calendar-year basis for individual policies with respect to…

All policies of credit life insurance and credit accident and health insurance shall be delivered or issued for delivery in this State only by an insurer authorized to do an insurance business therein, and shall be issued only through holders of licenses or authorizations issued …

(a) All claims shall be promptly reported to the insurer or its designated claim representative, and the insurer shall maintain adequate claim files. All claims shall be settled as soon as possible and in accordance with the terms of the insurance contract. (b) All claims shall b…

When credit life insurance or credit accident and health insurance is required as additional security for any indebtedness, the debtor shall, upon request to the creditor, have the option of furnishing the required amount of insurance through existing policies of insurance owned …

If any provision of this subchapter or the application thereof to any person or circumstances is held invalid, the remainder of the subchapter and the application of such provision to other persons or circumstances shall not be affected thereby. Notes N.J. Admin. Code § 11:2-3.25…

Forms and rates which have been filed by the Commissioner pursuant to N.J.S.A. 17B:29-7 and 8 which are not in compliance with these rules shall be deemed withdrawn as of November 20, 1996. Notes N.J. Admin. Code § 11:2-3.26 New Rule, R.1996 d.206, effective 5/20/1996. See: 27 Ne…

(a) Credit life insurance and credit accident and health insurance shall be issued only in the following forms: 1. Individual policies of life insurance issued to debtors on the term plan; 2. Individual policies of accident and health insurance issued to debtors on a term plan, o…

(a) The amount of credit life insurance issued in connection with a specific loan or other credit transaction shall not exceed the indebtedness. (b) Where an indebtedness repayable in substantially equal installments is secured by an individual policy of credit life insurance, th…

(a) The term of any credit life insurance or credit accident and health insurance shall, subject to acceptance by the insurer, commence on the date when the debtor becomes obligated to the creditor which may be deemed to be the date from which interest or finance charges on the i…

(a) All credit life insurance and credit accident and health insurance shall be evidenced by an individual policy, or in the case of group insurance, by a certificate of group insurance which shall be delivered to the insured debtor at the time the indebtedness is incurred or wit…

(a) Credit life insurance may be issued in connection with leases of personal property only when, pursuant to the terms of the lease, death of the lessee imposes a financial obligation to the lessor on the lessee's estate. (b) The amount of credit life insurance issued in connect…

(a) Insurers shall provide prominent written notice at the time of application that credit accident and health insurance coverage is not required. Such notice shall contain a date and signature section to be completed by the applicant. The form of notice shall be submitted to the…

(a) Credit life and credit accident and health insurance may be issued in connection with open-end debts such as credit card transactions. (b) The following requirements apply to the amount of credit life and credit accident and health insurance issued in connection with open-end…

This subchapter sets forth the manner of determining premium for perpetual homeowners insurance for any applicable statutory fee, surcharge, tax or assessment. Notes N.J. Admin. Code § 11:2-31.1

The provisions of this subchapter apply to all insurers transacting the business of perpetual homeowners insurance in this State, including all perils insured thereunder. Notes N.J. Admin. Code § 11:2-31.2

The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise. "Annual adjustments" means any adjustments in the perpetual deposit account during the calendar year, exclusive of dividends. Increases …

(a) For the purposes of any statutory fee, surcharge, tax or assessment based on premium and applicable to perpetual homeowners insurance, premium is: 1. The sum of the net perpetual deposits received for perpetual homeowners insurance from the inception of the policy through the…

(a) Each insurer shall include with the annual statement filed with the Commissioner, a list of the lines of business under which perpetual homeowners insurance is written, on form(s) prescribed by the Commissioner. (b) All data submitted is examined by the Commissioner and he or…

Failure to comply with these provisions may result in the imposition of sanctions by the Department including, but not limited to, sanctions pursuant to N.J.S.A. 17:33-2. Notes N.J. Admin. Code § 11:2-31.6

(a) The purpose of this subchapter is to set forth the procedures for the holding by the Commissioner of any required deposits and to establish the fees to be charged the depositor for the services of the custodian of such deposits pursuant to N.J.S.A. 17:20-1 et seq., 17:46B-1 e…

The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise. "Bank" means a State or Federally chartered bank, savings bank, or savings and loan association which has trust powers and which has its…

(a) Whenever the Commissioner is required or authorized by a law of this or any other State or country to receive and hold a deposit, such deposit shall be made with the custodian on behalf of the Commissioner. The custodian is appointed by the Commissioner on the basis of bids s…

(a) All deposits made on or after January 7, 1991 shall conform to the requirements contained in this subchapter. (b) To the extent a depositor has on deposit securities that do not conform with the types of securities specified herein, such depositor shall, by June 30, 1991 or u…

Failure to comply with this subchapter may result in the imposition of penalties as provided by law. Notes N.J. Admin. Code § 11:2-32.5

(a) This subchapter sets forth the filing requirements for an employer seeking to self-insure its workers' compensation liability pursuant to N.J.S.A. 34:15-77. (b) This subchapter applies to all employers seeking to self-insure workers' compensation liability in this State. Note…

The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise: "Applicant" means an employer applying for an exemption from insuring its compensation liability. "Certificate of Order Granting Exempti…

(a) Any employer which applies for an exemption from insuring all or part of its compensation liability shall submit the following to the Commissioner: 1. A copy of its most recent annual financial statement certified by an independent certified public accountant to present fairl…