N.J.S.A 17:49A-2. Findings, declarations

17:49A-2. Findings, declarations

The Legislature finds and declares that:

a. The lack of availability and escalating cost of liability insurance, when available, has caused a crisis nationally and in this State. Not-for-profit and nonprofit corporations as well as medical and non-medical facilities that provide residences for the elderly and disabled have been especially hard hit by the liability insurance crisiS.

b. It is the public policy of this State that facilities which operate without profit or provide residential settings where significant numbers of elderly or disabled Supplemental Security Income (SSI) recipients reside should have access to adequate and affordable liability insurance coverage.

C. To this end, it is incumbent upon the State to provide a means by which adequate and affordable liability coverage can be obtained by these entitieS.

L. 1987, C. 431, S.2.


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