Full text of legislative history behind the Insurers Rehabilitation and Liquidation Model Act.
New Jersey Insurers Rehabilitation and Liquidation Model Act Legislative History
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US-AF02
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FAQ
The Office of Property and Casualty of the Department of Banking and Insurance is charged with the regulation of rates, rules and forms for property and casualty insurance. The section regulates personal, commercial and title insurance sold in the state.
Statute of Limitations for Bad Faith This statute (N.J. Stat. 2A:14-1) says lawsuits over contractual disputes must be filed within six years of when the cause of action accrued. This means you must file a bad faith lawsuit within six years of when bad faith occurred.
The Commercial Insurance Deregulation Act of 1982 (N.J.S.A. AA-1 et seq.) establishes a separate rating law for commercial lines insurance and exempts such lines from the provisions of N.J.S.A. AA-1 et seq.
What is the purpose of the commercial lines Insurance Deregulation Act of 1982? To encourage competition, to stifle and control monopolies, promote the most efficient rating and marketing procedures.
The Holding Company Act sets forth the standards and requirements for the acquisition/change of control of a domestic insurer and the operations of insurance holding company systems, which include a New Jersey domestic insurer.