New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 1 - ADMINISTRATION
Subchapter 20 - RENEWAL, CANCELLATION AND NONRENEWAL OF COMMERCIAL AND HOMEOWNERS INSURANCE POLICIES
Section 11:1-20.11 - Penalties
Universal Citation: NJ Admin Code 11:1-20.11
Current through Register Vol. 56, No. 18, September 16, 2024
(a) In addition to any other penalty authorized by law, the Commissioner may, after notice and a hearing, impose penalties as prescribed by 17:29A-1 et seq., 17:29AA-1 et seq., 17:29B-7 and 11, 17:30C-1 et seq., 17:32-1 et seq. and 17:33-2.
(b) As an alternative or in addition to the penalties set forth in (a) above, the Commissioner, where he or she deems such action will further the purposes of this subchapter, may require immediate reinstatement without lapse of any policy that has been cancelled or nonrenewed in violation of the provisions of this subchapter.
1. The Commissioner shall not order any
reinstatement more than one year after the effective date of the nonrenewal or
cancellation, provided, however, that the one year period shall be tolled
during the course of any administrative proceedings initiated by the Department
and any subsequent judicial review of those proceedings.
2. Nothing herein shall be deemed to create
any right or cause of action on behalf of any insured to enforce the penalties
set forth in this subsection.
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