N.J. Admin. Code § 11:3-1.1

Current through Register Vol. 56, No. 8, April 15, 2024

Section 11:3-1.1 - Purpose and scope

(a) This subchapter establishes a plan pursuant to N.J.S.A. 17:29D-1:

1. To provide personal private passenger automobile insurance coverage for automobiles owned or operated by qualified applicants subject to the conditions stated; and

2. To provide insurance coverage for all motor vehicles other than private passenger vehicles owned or operated by qualified applicants, subject to the conditions stated.

(b) The purposes of this subchapter are:

1. To preserve to the public the benefits of price competition by encouraging maximum use of the voluntary insurance system;

2. To establish a procedure for the equitable distribution of private passenger automobile risks to assigned companies as defined by the PAIP and as set forth in the AIP plan of operation; and

3. To establish a procedure with respect to all motor vehicles other than private passenger vehicles for the sharing of premiums, losses, and expenses among all insurers who are participants in New Jersey.

(c) The provisions of this subchapter shall apply to all insurers admitted to transact and transacting automobile insurance in this State, except as otherwise provided in this subchapter.

N.J. Admin. Code § 11:3-1.1

Adopted by 50 N.J.R. 565(a), effective 1/16/2018