New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 1 - ADMINISTRATION
Subchapter 20 - RENEWAL, CANCELLATION AND NONRENEWAL OF COMMERCIAL AND HOMEOWNERS INSURANCE POLICIES
Section 11:1-20.8 - Cancellation and nonrenewal based on agency termination
Universal Citation: NJ Admin Code 11:1-20.8
Current through Register Vol. 56, No. 18, September 16, 2024
(a) Every cancellation or nonrenewal based on agency termination shall be supported by the following documentation:
1. Explanation
of the basis for the insurer's termination of the agency contract;
2. Explanation of why the individual risk(s)
or line, class or subclass, as applicable, of insurance must be cancelled or
nonrenewed as a result of the agency termination and why coverage cannot or
should not be continued through referral to another active agent of the insurer
or written by the insurer on a direct basis;
3. Evidence of the provision of replacement
coverage to the insured, where applicable;
4. Copy of the insured's statement consenting
to the termination of coverage, where applicable; and
5. Copy of the written notice issued by the
insurer advising the insured of his or her right to continue coverage with the
insurer.
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