New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 1 - ADMINISTRATION
Subchapter 31 - SURPLUS LINES INSURER ELIGIBILITY
Section 11:1-31.2 - Definitions
The following words and terms, as used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise:
"Alien applicant" means an applicant which is an unauthorized insurer formed under the laws of any country other than the United States, its states, districts, territories, commonwealths, possessions or the Panama Canal Zone.
"Applicant" means an unauthorized foreign or alien insurer applying for a certificate of eligibility in this State.
"Certificate of eligibility" means a certificate issued to an unauthorized insurer by the Commissioner pursuant to N.J.S.A. 17:22-6.45 evidencing that it is an eligible surplus lines insurer in this State.
"Commissioner" means the Commissioner of the New Jersey Department of Banking and Insurance.
"Department" means the New Jersey Department of Banking and Insurance.
"Eligible surplus lines insurer" or "surplus lines insurer" means an unauthorized foreign or alien insurer in which an insurance coverage is placed or may be placed pursuant to N.J.S.A. 17:22-6.40 et seq.
"Foreign applicant" means an applicant which is an unauthorized insurer formed under the laws of a jurisdiction of the United States other than this State.
"Home state" is as defined in 15 U.S.C. § 8206(6).
"NAIC" means the National Association of Insurance Commissioners.
"Surplus lines agent" means a person licensed pursuant to N.J.S.A. 17:22A-1 et seq. and N.J.A.C. 11:17 with the authority to place insurance coverages on behalf of unauthorized insurers.
"Unauthorized insurer" means a foreign or alien insurer that is not duly authorized to transact business in this State by a current certificate of authority issued pursuant to the laws of this State.
