New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 15 - GROUP SELF-INSURANCE
Subchapter 4 - JOINT INSURANCE FUNDS FOR SCHOOL BOARDS PROVIDING PROPERTY AND LIABILITY COVERAGES
Section 11:15-4.18 - Individual loss reserve funds
Universal Citation: NJ Admin Code 11:15-4.18
Current through Register Vol. 56, No. 18, September 16, 2024
(a) Whenever the risk management program of a joint insurance fund requires the fund's members to individually retain a specified amount of risk, potential liability, or incurred losses, the participant shall provide for such liability, or incurred losses:
1. As a deductible to be charged to
the operating expenses of the incurring participant; or
2. Through a separate item of appropriation
for the loss year in its annual budget.
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