N.J. Admin. Code § 11:1-10.5

Current through Register Vol. 56, No. 21, November 4, 2024

Section 11:1-10.5 - Letter of intent

(a) Prior to the acceptance of a final application for a Certificate of Authority in the State of New Jersey, all foreign and alien insurers engaged in the business of property and casualty insurance who desire to transact the business of insurance in the State of New Jersey shall submit, as a preliminary application, a letter of intent, which shall include the information required in (a)1 through 7 below.

1. The name of the applicant;

2. Where applicable, the name of any person, as defined in this subchapter, or other entity, by whom the applicant is controlled;

3. The applicant's current insurance holding company systems chart;

4. The type(s) of insurance proposed to be written by the applicant in the State of New Jersey;

5. A certified copy of the applicant's most recent Annual Statement, prepared on the NAIC annual and quarterly statements forms used by New Jersey domestic insurers;

6. A certified copy of the applicant's current Certificate of Authority from its state, district, commonwealth, territory, possession or country of domicile; and

7. The most recent report(s) from rating agencies, including, but not limited to, A.M. Best, Moody's, Standard and Poor's, Duff and Phelps, and Dun and Bradstreet.

N.J. Admin. Code § 11:1-10.5

Amended by R.2003 d.209, effective 5/19/2003.
See: 35 N.J.R. 66(a), 35 N.J.R. 2182(a).
In (a), substituted "7" for "8"in the introductory paragraph, deleted 4, recodified existing 5 through 7 as 4 through 6, deleted 8, added a new 7.