New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 15 - GROUP SELF-INSURANCE
Subchapter 2 - JOINT INSURANCE FUNDS FOR LOCAL GOVERNMENTAL UNITS PROVIDING PROPERTY AND LIABILITY COVERAGES
Section 11:15-2.18 - Individual loss reserve funds
Universal Citation: NJ Admin Code 11:15-2.18
Current through Register Vol. 56, No. 6, March 18, 2024
(a) Whenever the risk management plan of a joint insurance fund requires the fund's members to individually retain a specific amount of risk, potential liability, or incurred losses, the participant shall provide for such liability, or incurred loss:
1. As a deductible to be charged to the
operating expenses of the incurring department or agency;
2. Through a separate item of appropriation
for the fund year in its annual budget; or
3. Through establishment of an insurance fund
pursuant to
40A:10-1 et seq.
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