N.J. Admin. Code § 11:17-7.4

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

Section 11:17-7.4 - Filing requirements

(a) No person, firm, association or corporation shall act as a reinsurance intermediary-broker in this State if the reinsurance intermediary-broker maintains an office either directly or as a member or employee of a firm or association, or an officer, director or employee of a corporation:

1. In this State, unless such reinsurance intermediary-broker is a licensed producer in this State; or

2. In another state, unless such reinsurance intermediary-broker is a licensed producer in this State or another state having a law substantially similar to this law or such reinsurance intermediary-broker is licensed in this State as a nonresident reinsurance intermediary.

(b) No person, firm, association or corporation shall act as a reinsurance intermediary-manager:

1. For a reinsurer domiciled in this State, unless such reinsurance intermediary-manager is a licensed producer in this State;

2. In this State, if the reinsurance intermediary-manager maintains an office either directly or as a member or employee of a firm or association, or an officer, director or employee of a corporation in this State, unless such reinsurance intermediary-manager is a licensed producer in this State; or

3. In another state for a nondomestic insurer, unless such reinsurance intermediary-manager is a licensed producer in this State or another state having a law substantially similar to this law or such person is licensed in this State as a nonresident reinsurance intermediary.

(c) Reinsurers and their reinsurance intermediaries-managers shall file a Notice of Reinsurance Intermediary-Manager in the form set forth as Form A in the Appendix to this subchapter incorporated herein by reference by completing and jointly executing the form and sending the written contract, a valid check or money order for $ 20.00, and all necessary attachments to the Department at the following address:

New Jersey Department of Banking and Insurance

Office of Consumer Protection Services

Licensing and Insurance Education

20 West State Street

PO Box 329

Trenton, NJ 08625-0329

N.J. Admin. Code § 11:17-7.4

Amended by R.1993 d.564, effective 11/15/1993.
See: 25 N.J.R. 4323(a), 25 N.J.R. 5234(a).
Amended by R.1998 d.233, effective 5/18/1998.
See: 30 N.J.R. 779(a), 30 N.J.R. 1833(a).
In (c), updated the address information.
Amended by R.2009 d.153, effective 5/4/2009.
See: 40 N.J.R. 6523(a), 41 N.J.R. 2014(c).
In the address in (c), substituted "327" for "329" and "0327" for "0329".

Amended by 55 N.J.R. 1931(a), effective 9/5/2023