New Jersey Administrative Code

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by the Commissioner pursuant to N.J.S.A. 17B:29-7 and 8 which are not in compliance with these rules shall be deemed withdrawn as of November 20, 1996.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…

(a) Any certificate holder which applies for renewal shall submit the following so that it is received by the Commissioner not later than 60 days prior to the expiration of its current certificate: 1. A completed "Statement by Employer Exempted From Insuring Liability For Compens…

The financial reports submitted pursuant to N.J.A.C. 11:2-33.3(a)1 and 33.4(a)4, and the supplementary statement submitted pursuant to N.J.A.C. 11:2-33.4(a)2, shall be confidential and shall not be subject to public inspection or copying pursuant to the "Right to Know" law, N.J.S…

(a) A certificate holder may cancel its exemption from insuring compensation liability by notifying the Commissioner in writing by certified letter return receipt requested not later than 30 days prior to date such cancellation takes effect. (b) Notwithstanding the cancellation o…

Failure to submit the information required by this subchapter completely and accurately shall constitute grounds for and may result in the denial or refusal to renew an exemption from insuring workers' compensation liability. Notes N.J. Admin. Code § 11:2-33.7

If any provision of this subchapter or the application thereof to any person or circumstance is held invalid, the remainder of this subchapter and the application of such provision to other persons or circumstances shall not be affected thereby. Notes N.J. Admin. Code § 11:2-33.8…

(a) The purpose of this subchapter is to establish the informational and procedural requirements for insurer requests for exemption, abatement, deferral, suspension of or excuse from an insurer's obligation, as the case may be, under the Fair Automobile Insurance Reform Act of 19…

The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise. "Applicant" means the insurer seeking an exemption, abatement, deferral, suspension of or excuse from its obligations pursuant to the FA…

(a) Any insurer seeking immediate relief from any FAIR Act obligation pursuant to N.J.S.A. 17:30E-14g, 17:33B-9c, 17:33B-11c(5), N.J.S.A. N.J.S.A. 17:33B-19, 17:33B-23, 17:33B-27, 17:33B-52 or 17:33B-55 shall submit a request for such relief no more than 45 days and not less than…

(a) When requesting immediate or discretionary relief pursuant to the FAIR Act, an insurer shall provide with its request the following information in a clear, concise and complete manner. 1. A cover letter stating: i. The name of the applicant; ii. The form and specific amount/p…

(a) When the Commissioner determines that fulfillment of a FAIR Act obligation or obligations set forth at N.J.A.C. 11:2-35.3(a) or (b) will result in the insurer being or becoming in an unsafe or unsound financial condition, or that an insurer is currently in an unsafe or unsoun…

(a) If the Commissioner denies an insurer's request for relief made pursuant to this subchapter, or if the insurer objects to the form of relief granted, the insurer may request a hearing on the Commissioner's determination within seven days from the date of such receipt of deter…

(a) The purpose of this subchapter is to regulate in this State the formation and/or operation of: 1. Foreign or alien risk retention groups; and 2. Purchasing groups formed in the United States pursuant to 15 U.S.C. § 3901 et seq. (b) This subchapter applies to: 1. All foreign o…

The following words and terms, as used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise: "Commissioner" means the Commissioner of the New Jersey Department of Banking and Insurance. "Doing business in this State" means solicita…

(a) No risk retention group shall do business in this State as a risk retention group until it has complied with the requirements of this subchapter and received Notice of Registration from the Department. (b) Any risk retention group which is chartered and licensed under the law…

(a) Any risk retention group which is registered in this State and chartered and licensed under the laws of any other state and which wishes to do business in this State, in addition to the requirements of N.J.A.C. 11:2-36.3, shall distribute its annual statement of operations to…

(a) No purchasing group shall do business in this State as a purchasing group until it has complied with the requirements of this subchapter and received notification from the Department that it has been registered to do business in this State. (b) Any group of persons with simil…

(a) Where a purchasing group obtains a group policy from an insurer that is eligible as a surplus lines insurer in this State pursuant to N.J.S.A. 17:22-6.40 et seq., and the policy covers members in this State, it shall be deemed that a diligent effort has been made to procure s…

(a) Each risk retention group, whether chartered in this State or otherwise, is subject to the same fines and penalties to which insurers licensed in this State are subject for any violation of this subchapter or any other applicable law. (b) Failure of a risk retention group or …

Effective June 15, 2009, the Office of Solvency Regulation will no longer accept any rate, rule or policy form filings submitted by purchasing groups to the Department other than through SERFF (System for Electronic Rate and Form Filing). Any filing received after June 14, 2009 i…

The purpose of this subchapter is to implement N.J.S.A. 17:22D-1 et seq. to enable the Department to regulate transactions involving insurers which are controlled by insurance producers. Notes N.J. Admin. Code § 11:2-37.1 Amended by R.1996 d.3, effective 1/2/1996. See: 27 New Jer…

This subchapter shall apply to all licensed property and casualty insurers domiciled in this State or domiciled in a state that is not an accredited state having in effect a law substantially similar to N.J.S.A. 17:22D-1 et seq. This subchapter shall not apply to captive insurers…

(a) The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise. "Accredited state" means a state in which the insurance department or other regulatory agency has qualified as meeting the minimum f…

All licensed property and casualty insurers domiciled in this State or domiciled in another state that is not a NAIC accredited state having in effect a law substantially similar to N.J.S.A. 17:22D-1 et seq., shall file an annual Producer-Controlled Insurer Information Report on …

(a) A Producer-Controlled Insurer Information Report form (Appendix A) shall be completed annually by each licensed property and casualty insurer to whom this subchapter applies and shall include the following information: 1. The name and address of the reporting insurer and any …

All documents submitted to the Commissioner pursuant to this subchapter are confidential and not public documents as defined in the Public Records Act, N.J.S.A. 47:1A-1 et seq. Notes N.J. Admin. Code § 11:2-37.6

Failure to comply with the provisions of this subchapter may result in the imposition of penalties as provided by law. Notes N.J. Admin. Code § 11:2-37.7

(a) The purpose of this subchapter is to provide a framework for the establishment of uniform risk-based capital and surplus requirements for all insurers authorized, admitted, or eligible to transact business pursuant to Title 17 or Title 17B of the New Jersey Statutes, and to i…

(a) All RBC Reports (to the extent the information therein is not required to be set forth in a publicly available annual statement schedule) and RBC Plans (including the results or reports of any examination or analysis of an insurer performed pursuant hereto and any corrective …