N.J. Admin. Code § 11:27-9.3

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

Section 11:27-9.3 - Filing requirements

(a) Within 30 days of formation, a medical malpractice liability insurance purchasing alliance shall file the following with the Commissioner:

1. A certification by a senior officer or other authorized representative of the purchasing alliance, which shall include:

i. The name of the purchasing alliance;

ii. The members of the purchasing alliance;

iii. The names of the board of directors, chairman, treasurer and secretary of the purchasing alliance;

iv. The New Jersey mailing address at which communications for the purchasing alliance are to be received;

v. The eligibility requirements for membership in the purchasing alliance; and

vi. The fees charged to members of the purchasing alliance;

vii. The identity of the insurer who is providing the medical malpractice liability insurance;

viii. A description of how coverage will be issued (that is, through individual policies or through a master policy with individual certificates of insurance); and

ix. The procedure and method by which return premium is calculated if a member discontinues coverage prior to policy termination;

2. A copy of the certificate of incorporation, if any, of the purchasing alliance; and

3. A copy of the joint contract executed by all members of the purchasing alliance.

(b) Filings shall be submitted to:

NJ Department of Banking and Insurance Surplus Lines Examining Office

PO Box 325

Trenton, NJ 08625-0325

(c) A current listing of the membership of the purchasing alliance as required by (a)lii above shall be filed with the Commissioner annually. Any other change in the information specified in (a) above shall be filed with the Commissioner within 30 days of the change.

N.J. Admin. Code § 11:27-9.3