N.J. Admin. Code § 11:27-3.5

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

Section 11:27-3.5 - Collateral for deductible

(a) All authorized medical malpractice insurers may require insureds to provide collateral for the deductible option chosen by the insured pursuant to N.J.A.C. 11:27-3.2.

1. Any collateral required shall be in an amount that bears a reasonable relationship to the amount of the deductible to be secured. Acceptable forms of collateral shall include surety bonds, irrevocable letters of credit issued by a bank, and such other forms as are deemed mutually agreeable by the insurer and insured.