N.J. Admin. Code § 11:15-4.18

Current through Register Vol. 57, No. 1, January 6, 2025

Section 11:15-4.18 - Individual loss reserve funds

(a) Whenever the risk management program of a joint insurance fund requires the fund's members to individually retain a specified amount of risk, potential liability, or incurred losses, the participant shall provide for such liability, or incurred losses:

1. As a deductible to be charged to the operating expenses of the incurring participant; or

2. Through a separate item of appropriation for the loss year in its annual budget.

N.J. Admin. Code § 11:15-4.18