New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 3 - AUTOMOBILE INSURANCE
Subchapter 2A - SPECIAL AUTOMOBILE INSURANCE POLICY
Section 11:3-2A.3 - General provisions
Universal Citation: NJ Admin Code 11:3-2A.3
Current through Register Vol. 56, No. 6, March 18, 2024
(a) The special automobile insurance policy shall be administered by the PAIP in accordance with a Special Policy plan of operation prepared by PAIP and approved by the Commissioner. The plan of operation shall include:
1. The procedure for the writing of Special
Insurance Policies by:
i. Assignment of
special automobile insurance policies to the member insurers of the PAIP
pursuant to the apportionment methodology of the PAIP Plan of Operation;
or
ii. The sharing of the premium,
losses and expenses of the special automobile policies among the member
insurers of the PAIP;
2.
The designation of one or more LAD carriers or servicing carriers to issue and
service special automobile insurance policies;
3. A rating system to be used for a special
automobile insurance policy. The special automobile insurance policy shall have
a Statewide uniform rate, established without regard to territorial or tier
factors, to be utilized by all insurers. The Commissioner may adjust the rate
annually by Order;
4. The policy
form and the application for the special automobile insurance policy for the
Special Policy, which shall clearly and conspicuously set forth the limitations
on benefits provided under the policy;
5. A Coverage Selection Form for the Special
Policy that meet the requirements of
39:6A-3.2 as amended by
section
46 of
P.L.
2003, c. 89;
and
6. Such other provisions as are
deemed necessary by the Governing Committee for the operation of the
PAIP.
(b) Special automobile insurance policies shall not be included in the determination of a competitive market pursuant to N.J.S.A. 17:33B-15d, as amended by §38 of P.L. 2003, c. 89.
Disclaimer: These regulations may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
