Current through Register Vol. 56, No. 24, December 18, 2024
(a) Every insurer shall participate in the
PAIP to the extent required by this subchapter and the AIP plan of
operation.
(b) The requirements of
this subchapter shall not apply to the following:
1. Insurers that have not issued or renewed
policies of private passenger automobile insurance in New Jersey since December
31, 1983;
2. Insurers that have
issued or renewed policies of private passenger automobile insurance in New
Jersey since December 31, 1983, but only in accordance with a commercial lines
rating system filed and approved pursuant to N.J.S.A. 17:29AA-1et
seq.;
3. Insurers transacting
private passenger automobile insurance business in New Jersey subject to a plan
of orderly withdrawal approved in accordance with N.J.A.C. 11:2-29, but only to
the extent that waiver of participation in the PAIP is explicitly provided by
the terms of the approved plan of orderly withdrawal; or
4. Insurers transacting private passenger
automobile insurance business in New Jersey subject to an order issued by the
Commissioner in accordance with N.J.S.A. 17:33B-23 and 24, but only to the
extent provided by the terms of the order.
(c) Insurers that currently insure, or have
insured since December 31, 1983, only certain types of automobiles (for
example, motor homes, recreational vehicles, antique automobiles, or
motorcycles) shall participate in the PAIP but only for the particular types of
automobiles currently being insured.
(d) Insurers claiming to be excluded from
participation pursuant to the provisions of (b) or (c) above shall comply with
the following:
1. Such insurers shall file
with the AIP no later than March 16, 2018 a certified statement containing the
following information:
i. The insurer's name,
including the NAIC group number;
ii. A statement that the insurer is not
required to participate in the PAIP or receive assignments through the
PAIP;
iii. The factual basis upon
which the insurer relied to determine that it is not required to comply fully
with this subchapter;
iv. The
particular provision of this section under which the insurer is included;
and
v. A certification by an
officer of the insurer that the statement is complete, correct, and accurate to
the best of the officer's information, knowledge, and belief based upon the
officer's personal review of all relevant records.
2. The certified statement shall be sent to
the AIP at the address as shown on the AIP's website:
http://www.aipso.com/plansites/newjersey.aspx [File Link Not
Available]
3. A copy of the
information filed pursuant to (d)1 and 2 above shall be filed with the
Department at the following address:
Property & Casualty
New Jersey Department of Banking and Insurance
20 West State Street
P.O. Box 325
Trenton, NJ 08625-0325
