N.J. Admin. Code § 11:27-11.3
Current through Register Vol. 57, No. 1, January 6, 2025
Section 11:27-11.3 - Reinsurance agreements(a) No later than the earlier of 60 days after the effective date of or 30 days after the execution of a new, renewal of or amendment to any ceded reinsurance contract covering medical malpractice liability insurance, whether such agreement covers medical malpractice liability as a single line or in combination with other lines, an insurer shall file with the Department: 1. A copy of the complete ceded reinsurance agreement, including all amendments thereto; and2. The reinsurance attestation maintained in accordance with the instructions to the NAIC annual statement, required pursuant to N.J.S.A. 17:23-1.(b) Unless an executed agreement was previously filed pursuant to (a)1 above, the insurer shall also notify the Department within 30 days of executing the reinsurance agreement, which notification shall also, if applicable, set forth any changes to a previously filed agreement with same reinsurer.(c) The insurer shall also make available for Department inspection and review the underwriting file related to such agreement.(d) In addition to (a) and (b) above, domestic insurers that are members of a holding company system shall also continue to be subject to the prior notification requirements regarding reinsurance agreements entered into with affiliates set forth in N.J.S.A. 17:27A-4.(e) An insurer may file the information required by this rule electronically by e-mail, if the file is no larger than 10 megabytes (MB), by filing the information to: medmalreporting@dobi.nj.gov, or by CD-ROM, if the file is larger than 10 MB.N.J. Admin. Code § 11:27-11.3
Amended by 49 N.J.R. 3232(b), effective 9/18/2017