New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 1 - ADMINISTRATION
Subchapter 10 - ADMISSION REQUIREMENTS FOR FOREIGN AND ALIEN PROPERTY AND CASUALTY INSURERS
Section 11:1-10.5 - Letter of intent
Universal Citation: NJ Admin Code 11:1-10.5
Current through Register Vol. 56, No. 6, March 18, 2024
(a) Prior to the acceptance of a final application for a Certificate of Authority in the State of New Jersey, all foreign and alien insurers engaged in the business of property and casualty insurance who desire to transact the business of insurance in the State of New Jersey shall submit, as a preliminary application, a letter of intent, which shall include the information required in (a)1 through 7 below.
1. The name of the
applicant;
2. Where applicable, the
name of any person, as defined in this subchapter, or other entity, by whom the
applicant is controlled;
3. The
applicant's current insurance holding company systems chart;
4. The type(s) of insurance proposed to be
written by the applicant in the State of New Jersey;
5. A certified copy of the applicant's most
recent Annual Statement, prepared on the NAIC annual and quarterly statements
forms used by New Jersey domestic insurers;
6. A certified copy of the applicant's
current Certificate of Authority from its state, district, commonwealth,
territory, possession or country of domicile; and
7. The most recent report(s) from rating
agencies, including, but not limited to, A.M. Best, Moody's, Standard and
Poor's, Duff and Phelps, and Dun and Bradstreet.
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