New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 17 - PRODUCER LICENSING
Subchapter 2 - LICENSING RULES
Section 11:17-2.4 - Requirements for licensing of certain limited lines insurance producers

Universal Citation: NJ Admin Code 11:17-2.4

Current through Register Vol. 56, No. 18, September 16, 2024

(a) A limited lines portable electronics insurance producer license issued to a portable electronics insurance vendor shall authorize the licensee and its employees or authorized representatives to engage in those activities permitted pursuant to that license. The insurer providing the portable electronics insurance coverage shall either directly supervise, or appoint a supervising entity to supervise, the administration of the portable electronics insurance program, including development of a training program subject to review by the Department for employees and authorized representatives of the portable electronics vendors in accordance with 17:22A-51.

(b) Upon a travel retailer and its employees and authorized representatives being registered with a licensed limited lines travel insurance producer and subject to the requirements as described below, the travel retailer and its registered employees and representatives shall be authorized to offer travel insurance on behalf of and under the direction of the licensed limited lines travel insurance producer.

1. The registration with the limited lines travel insurance producer shall include, at a minimum, the following: the name and contact information of the travel retailer and an officer or person who directs or controls the travel retailer's operations, and the travel retailer's Federal Employer Identification Number (FEIN). Upon request, the licensed limited lines travel insurance producer shall provide the Department a list of all travel retailers registered with the producer.

2. The licensed limited lines travel insurance producer shall require each employee of the travel retailer whose duties include offering and disseminating travel insurance to be registered and to receive a program of instruction subject to review by Department.

3. All marketing materials and travel documents distributed by travel retailers to customers that make reference to travel insurance shall clearly identify the licensed limited lines travel insurance producer with whom the travel retailer is registered and provide its contact information.

4. The licensed limited lines travel insurance producer shall be responsible for the insurance-related conduct of all travel retailers registered with the licensee and of all of the travel retailer's employees and authorized representatives.

(c) An employee or authorized representative of a licensed limited lines insurance producer business entity that offers and disseminates limited line pet, car rental, group mortgage cancellation, self-storage personal property, or legal expense insurance on behalf of and under the direction of the licensed business entity is not required to be licensed as a limited lines insurance producer if the employee or authorized representative:

1. Receives a program of instruction or training subject to review by the Department prior to receiving permission to offer the limited line insurance product offered by the licensed business entity and under the direction of the responsible licensed producer; and

2. Does not receive a commission or compensation that is dependent on the placement of the limited line insurance product.

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