N.J.S.A 17:30D-25 Annual review of capitalization, reserve requirements.

17:30D-25 Annual review of capitalization, reserve requirements.

21. Subject to standards adopted by the National Association of Insurance Commissioners, the Commissioner of Banking and Insurance shall, within 180 days after the effective date of Phamplet Law 2004, Chapter 17 (C. 2A:53A-37 et al.) and annually thereafter, review the current capitalization and reserve requirements applicable to insurers authorized or admitted to transact medical malpractice liability insurance in this State, as those requirements are established by statute or regulation, or both.

Based upon the findings of that review, the commissioner shall adopt regulations, pursuant to the “Administrative Procedure Act,” P.L.1968, C. 410 (52:14B-1. Short title et seq.), to modify those requirements, as the commissioner determines necessary in order to ensure the solvency of those insurers and the availability and affordability of medical malpractice liability insurance in this State. If the commissioner determines that legislation is necessary to effect any such modification, the commissioner shall notify the Governor and the Legislature within the 180-day period provided in this section.

L.2004,C. 17,S.21.

Case(s):

Look up case for New Jersey Statute 17:30D-25 Annual review of capitalization, reserve requirements.

Original Text maintained by the State of New Jersey:

NJ Maintained Unanotated Statutes References to 17:30D-25 Annual review of capitalization, reserve requirements.

Previous: 17:30D-24 Mailing of notice of renewal, nonrenewal. Next: 17:30D-26 Option of installments for premium payments.

Disclaimer: Always check for the most up to date language of a statute. Every time a new law is enacted it has a possibility of changing the wording of a statute or override case law. These pages were created to assist in looking up and migrating between statutes easily. No accuracy is guaranteed. If you need help with researching law, contact an attorney.

Related Posts

Leave a Reply