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

17:27A-11. Revocation, suspension, or nonrenewal of insurer's license Whenever it appears to the commissioner that any person has committed a violation of this chapter which makes the continued operation of an insurer contrary to the interests of policyholders or the public, the …

17:27A-12. Judicial review; order in lieu of prerogative writ a. Any person aggrieved by any act, determination, rule, regulation, or order or any other action of the commissioner pursuant to this chapter may appeal therefrom to the Superior Court. The court shall conduct its rev…

17:27A-13. Conflict with other laws All laws and parts of laws of this State inconsistent with this chapter are hereby superseded with respect to matters covered by this chapter. L.1970, c. 22, s. 13, eff. April 3, 1970.

17:27A-14. Separability of provisions If any provision of this chapter or the application thereof to any person or circumstance is held invalid, the invalidity shall not affect other provisions or applications of this chapter which can be given effect without the invalid provisio…

17:27A-2 Acquisition of control of or merger with domestic insurer. 2. Acquisition of control of or merger with domestic insurer. a. (1) Filing requirements. No person other than the issuer shall make a tender offer for or a request or invitation for tenders of, or enter into any…

17:27A-3 Registration of insurers. 3. Registration of insurers. a. Registration. Every insurer which is authorized to do business in this State and which is a member of an insurance holding company system shall register with the commissioner, except a foreign insurer subject to d…

17:27A-4 Standards. 4. Standards. a. Transactions within an insurance holding company system. (1) Transactions within an insurance holding company system to which an insurer subject to registration is a party shall be subject to the following standards: (a) The terms shall be fai…

17:27A-4.1 Definitions, regulations concerning acquisitions. 7. a. As used in this section only: "Acquisition" means any agreement, arrangement or activity, the consummation of which results in a person acquiring, directly or indirectly, the control of another person, and include…

17:27A-5 Examination. 5. Examination. a. Power of commissioner. In addition to the powers which the commissioner has under other sections of Title 17 of the Revised Statutes and Title 17B of the New Jersey Statutes relating to the examination of insurers, the commissioner shall h…

17:27A-5.1 Power of commissioner; expenses; supervisory college. 7. a. Power of commissioner. With respect to any insurer registered under section 3 of P.L.1970, c.22 (C.17:27A-3), and in accordance with subsection c. of this section, the commissioner shall also have the power to…

17:27A-5.2 Group-wide supervision for international insurance groups. 8. Group-wide supervision for international insurance groups. a. As used in this section, the following terms shall have the respective meanings hereinafter set forth, unless the context clearly indicates other…

17:27A-6 Confidential treatment. 6. Confidential treatment. a. Documents, materials or other information in the possession or control of the department that are obtained by or disclosed to the commissioner or any other person in the course of an examination or investigation made …

17:27A-7. Rules and regulations The commissioner may, upon notice and opportunity for all interested persons to be heard, issue such rules, regulations, and orders as shall be necessary to carry out the provisions of this chapter. L.1970, c. 22, s. 7, eff. April 3, 1970.

17:27A-7.1. Filing fees 10. The commissioner may by rule or regulation set reasonable, necessary and appropriate fees for any filing required pursuant to P.L.1970, c.22 (C.17:27A-1 et seq.). All fees payable to the commissioner pursuant to this section are nonrefundable. L.1993,c…

17:27A-8. Injunctions; prohibitions against voting securities, sequestration of voting securities 8. Injunctions; prohibitions against voting securities, sequestration of voting securities. a. Injunctions. Whenever it appears to the commissioner that any person or any director, o…

17:27A-9.1 Violations; penalties. 8. a. Any insurer failing to file any registration statement as required by P.L.1970, c.22 (C.17:27A-1 et seq.) shall be required to pay a penalty of up to $5,000 for each day's delay. b. Every director or officer of an insurance holding company …

17:27B-1. Definitions As used in this act, (1) "Domestic insurer" means a stock insurance company organized under the laws of this State; (2) "Parent corporation" means a corporation organized for any purpose under any law of this State or any other jurisdiction, which owns direc…

17:27B-2. Acquisition of minority interests (1) Any parent corporation may, in the manner hereinafter prescribed, acquire all of the issued and outstanding shares of voting stock of its subsidiary insurer not owned by the parent corporation. (2) The method authorized by this act …

17:27B-3. Plan of acquisition (1) The board of directors of the parent corporation which seeks to acquire the minority interests in its subsidiary insurer shall adopt a plan for such acquisition. (2) The plan of acquisition shall set forth: (a) The name of the subsidiary insurer;…

17:27B-4. Submission of plan of acquisition to commissioner (1) Upon adoption of the plan of acquisition, it shall be executed by the parent corporation under its corporate seal and submitted to the commissioner who shall, within 60 days from the date of such submission, endorse …

17:27B-5. Delivery of plan to minority shareholders; acquisition of shares (1) If the commissioner approves the plan, the parent corporation shall deliver a copy of the plan or a summary thereof approved by the commissioner to each person who, as of the date of delivery, is a hol…

17:27B-6. Rights of dissenting shareholders (1) Within 30 days after delivery of the plan or a summary thereof pursuant to subsection (1) of section 5, any shareholder of the subsidiary insurer to whom the parent corporation was required to make such delivery may give to the pare…

17:28-1. Separate risks and premiums; exceptions When a policy shall insure against more than one hazard or peril, the insurance against any specific hazard or peril shall not be separately cancelable unless the policy shall specify a separate premium for any such insurance so ca…

17:28-1.1 Required coverage; exceptions. 2. a. Except for a basic automobile insurance policy, no motor vehicle liability policy or renewal of such policy of insurance, including a standard liability policy for an automobile as defined in section 2 of P.L.1972, c.70 (C.39:6A-2), …

17:28-1.3 Coverage for pedestrians; definitions. 19. a. Every liability insurance policy issued in this State on a motor vehicle, exclusive of an automobile as defined in section 2 of P.L. 1972, c.70 (C.39:6A-2), but including a motorcycle and an autocycle, or on a motorized bicy…

17:28-1.4 Mandatory coverage. 18. Any insurer authorized to transact or transacting automobile or motor vehicle insurance business in this State, or controlling or controlled by, or under common control by, or with, an insurer authorized to transact or transacting insurance busin…

17:28-1.5. Definitions 1. As used in this act: "Commissioner" means the Commissioner of Insurance. "Hospital expenses" means: a. The cost of a semiprivate room, based on rates customarily charged by the institution in which the recipient of benefits is confined; b. The cost of bo…

17:28-1.6. Owner, operator of motor bus to maintain medical expense benefits coverage a. Every owner, registered owner or operator of a motor bus registered or principally garaged in this State shall maintain medical expense benefits coverage, under provisions approved by the com…

17:28-1.7 Exemption from tort liability for owner, registrant, operator of motor bus. 3. Every owner, registrant or operator of a motor bus registered or principally garaged in this State and every person or organization legally responsible for his acts or omissions, is hereby ex…

17:28-1.8. Evidence of amounts collectible, paid to injured passenger inadmissible in civil action Evidence of the amounts collectible or paid to an injured passenger pursuant to section 2 of this act is inadmissible in a civil action against an owner, registrant or operator of a…

17:28-1.9. Immunity from liability for certain auto insurance providers 1. a. Notwithstanding any other provision of law to the contrary, no person, including, but not limited to, an insurer, an insurance producer, as defined in section 2 of P.L.1987, c.293 (C.17:22A-2), a servic…

17:28-2. Effect of insolvency or bankruptcy on paying damages; policy provisions No policy of insurance against loss or damage resulting from accident to or injury suffered by an employee or other person and for which the person insured is liable, or against loss or damage to pro…

17:28-3. Maximum premium stated in policy of mutual company The maximum premium shall be expressed in the policy of a mutual company organized under any law of this State, and, in a company other than a life insurance company, it may be solely a cash premium or a cash premium and…

17:28-4. Definitions As used in this act "financed automobile" shall include (a) an automobile or other motor vehicle sold at retail, the purchase price whereof is not paid in full at the time of its purchase, but all or part whereof is advanced by the seller to the purchaser by …

17:28-5. Policy provisions From and after the first day of September, nineteen hundred and thirty-nine, no master policy, individual contract or certificate of insurance upon or affecting any financed automobile shall be issued or delivered in this State unless the form of such p…

17:28-6. Special provisions No distinction shall be made in the premium rates or rates of dividends between policies covering financed automobiles and policies covering other automobiles. No certificate of insurance shall be issued or delivered in this State except in connection …

17:28-7. Penalty The Commissioner of Banking and Insurance shall have the power to revoke the authority to issue policies of insurance upon financed automobiles in this State of any insurance company violating any provision of this act. L.1939, c. 74, p. 120, s. 4.

17:28-8 Filing of endorsement to automobile liability insurance policy; "named excluded driver"; rules, regulations. 63. a. An insurer authorized to transact or transacting automobile insurance business in this State shall file with the commissioner, for the commissioner's approv…

17:28A-3. Repeal Section four of "An act concerning group life insurance, amending sections 17:34-19, 17:34-31 and 17:34-32, and supplementing chapter thirty-four of Title 17 of the Revised Statutes," approved May twenty-fifth, one thousand nine hundred and thirty-eight, is repea…

17:29-11. Substitution of policies; charges prohibited; exception No lender or other legal entity servicing mortgages shall make in connection with any mortgage loan any charge for the substitution of an insurance policy or policies except as may be permitted by regulation of the…

17:29-12. Maximum charge; regulation The Commissioner of Banking and Insurance shall, pursuant to chapter 66 of the laws of 1958, hold a hearing and promulgate an appropriate regulation establishing the maximum amount which may be charged by a lender or other legal entity servici…

17:29A-1. Definitions 1. As used in this act, (a) "Rate" means the unit charge by which the measure of exposure or the amount of insurance specified in a policy of insurance or covered thereunder is multiplied to determine the premium. (b) "Premium" means the consideration paid o…

17:29A-10. Uniform change in rates; application; order of approval or denial A member of or subscriber to a rating organization may make a written application to the commissioner for permission to file a uniform percentage decrease or increase to be applied to the premiums produc…

17:29A-11. Commissioner, determination as to rates; factors to be considered In every case where, pursuant to the provisions of this act, the commissioner is authorized or required to determine whether rates are reasonable and adequate, and not unfairly discriminatory, he may ava…

17:29A-12. Examination of rating organizations; costs The commissioner may, whenever he deems it expedient, but at least once in every five years, make or cause to be made an examination of the business, affairs, and methods of operation of every rating organization doing busines…

17:29A-13. Notice of withdrawal or expulsion of member of rating organization; readmission Every rating organization shall notify the commissioner promptly upon the withdrawal or expulsion therefrom of any member or subscriber. No rating organization shall expel or otherwise excl…