New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 4 - ACTUARIAL SERVICES
Subchapter 34 - LONG-TERM CARE INSURANCE
Section 11:4-34.15 - Discretionary powers of Commissioner
Universal Citation: NJ Admin Code 11:4-34.15
Current through Register Vol. 56, No. 6, March 18, 2024
(a) The Commissioner may, upon written request and after an administrative hearing, issue an order to modify or suspend a specific provision or provisions of this subchapter with respect to a specific long-term care insurance policy or certificate upon a written finding that:
1.
The modification or suspension would be in the best interest of the
insureds;
2. The purpose to be
achieved could not be effectively or efficiently achieved without the
modification or suspension; and
3.
The modification or suspension is necessary to the development of an innovative
and reasonable approach for insuring long-term care; or the policy or
certificate is to be issued to residents of a life care or continuing care
retirement community or some other residential community for the elderly and
the modification or suspension is reasonably related to the special needs or
nature of such a community; or the modification or suspension is necessary to
permit long-term care insurance to be sold as part of, or in conjunction with,
another insurance product.
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