Title 17, Title 17: CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

17:37A-13. Reports of inspection All reports of inspection performed by or on behalf of the association shall be made available to members of the association, applicants and the commissioner. L.1968, c. 129, s. 13, eff. July 1, 1968.

17:37A-14. Liability for statements in reports or communications There shall be no liability on the part of, and no cause of action of any nature shall arise against, the association or its agents or employees, an insurer or the commissioner or his authorized deputies, for any st…

17:37A-15. Association's annual statement; contents, form 15. The association shall file with the Governor, the commissioner and the New Jersey Senate and General Assembly, annually on or before March 1, a statement which shall contain information with respect to its transactions…

17:37A-16. Examination into affairs; hearings; expenses The commissioner may make an examination into the affairs of the association whenever he deems it expedient, and in undertaking any examination he may hold a hearing or hearings pursuant to the procedures provided in chapter…

17:37A-18. New Jersey insurance development fund; purpose; administration There is hereby created a fund to be known as the "New Jersey Insurance Development Fund," for the purpose of providing a financial backup for the plan of operation of the association as approved or issued …

17:37A-19. Privilege of doing business; surcharge upon premiums For the privilege of doing property insurance business in this State, and in addition to all other requirements of law, every insurer authorized to write such insurance in this State shall be obligated to collect fro…

17:37A-2. Definitions 2. As used in this act, the following words and terms shall have the following meanings, unless the context indicates or requires another or different meaning or intent: (a) "Essential property insurance" means insurance against direct loss to property as de…

17:37A-20. Establishment of fund; surcharge upon basic property insurance premiums; maximum For the purpose of providing the moneys necessary to establish the New Jersey Insurance Development Fund in an amount sufficient to meet the requirements of said fund pursuant to section 2…

17:37A-21. Net value of fund; determination; amount The commissioner, on or before April 1, shall ascertain and determine the net value of the fund as of the next preceding December 31. The net value of the fund shall be determined by deducting from the value of the assets of the…

17:37A-22. Custodian of fund; disbursements; investments The fund created by this act shall be separate and apart from any other fund and from all other State moneys. The State Treasurer shall be the custodian of said fund; and all disbursements from said fund shall be made by th…

17:37A-23. Insufficiency of fund to pay claims; appropriation If in any year or at any time the fund as hereinabove established is insufficient to pay claims chargeable to the fund to the extent of 5% of the most recent full calendar year basic property insurance premiums written…

17:37A-24. Entry upon lands for examination The agents and employees of any insurer of this State participating in a plan established pursuant to this act may enter upon any lands and premises in the State for the purpose of making such examination as is necessary or convenient f…

17:37A-25. Federal programs of reinsurance; participation In addition to any powers conferred upon him by this or any other law, the commissioner is authorized to do all things necessary to enable this State and any insurer participating in any plan approved or issued by the comm…

17:37A-26. Rules and regulations The commissioner may make reasonable rules and regulations to carry out the purposes of this act. L.1968, c. 129, s. 26, eff. July 1, 1968.

17:37A-27. Reports from insurers concerning risks The commissioner may require such reports from insurers concerning risks insured under any plan approved or issued pursuant to this act as he shall deem necessary. L.1968, c. 129, s. 27, eff. July 1, 1968.

17:37A-3. Creation of association; membership There is hereby created the New Jersey Insurance Underwriting Association, consisting of all insurers authorized to write and engaged in writing within this State, on a direct basis, property insurance. Every such insurer shall be a m…

17:37A-4. Powers The association shall, pursuant to the provisions of this act and the plan of operation, and with respect to essential property insurance on insurable property, have the power, on behalf of its members: a. To cause to be issued policies of insurance to applicants…

17:37A-5. Board of directors; election or appointment The association shall be governed by a board of 21 directors, 10 of whom shall be elected annually by the members of the association, whose votes in such election shall be weighted in accordance with each member's participatio…

17:37A-6. Writings, expenses, profits and losses; participation by members All members of the association shall participate in its writings, expenses, profits and losses in the proportion that the net direct premiums of each such member (but excluding that portion of premiums att…

17:37A-7. Proposed plan of operation; provisions; review and approval; amendments; annual review a. Within 90 days after the effective date of this act, the directors of the association shall submit to the commissioner, for his review and approval, a proposed plan of operation. S…

17:37A-8. Essential property insurance; application; contents; denial; appeal a. Any person having an insurable interest in insurable property, who has failed to procure essential property insurance from an authorized insurer in the normal insurance market, shall, on or after the…

17:37A-9. Ceding insurance to association Any member of the association may cede to the association essential property insurance written on insurable property, to the extent, if any, and on the terms and conditions set forth in the plan of operation. L.1968, c. 129, s. 9, eff. Ju…