N.J. Admin. Code § 13:44D-4.7

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

Section 13:44D-4.7 - Insurance

(a) Every licensed public mover and/or warehouseman shall secure, maintain and file with the Director a certificate of insurance from an insurance company authorized and licensed to do business in this State covering the motor vehicle, cargo, storage facilities and property being held in storage for the amounts set forth in (b) below, conditioned or providing for payment of all judgments recovered against such public mover and/or warehouseman.

(b) The minimum amounts of coverage a public mover shall secure and maintain are:

1. Cargo liability coverage at the rate of $ 1.00 per pound per article, which, at a minimum, covers:

i. For loss or damage to property being transported (cargo liability insurance) on any vehicle: $ 25,000 per accident; and

ii. For loss or damage to or aggregate of losses or damages of or to property occurring at any one time and place: $ 50,000; and

2. Bodily injury liability, property damage liability:

i. Limit for bodily injuries to or death of one person: $ 25,000;

ii. Limit for bodily injuries to or death of all persons injured or killed in any one accident: $ 100,000, subject to a maximum of $ 25,000 for bodily injuries or death of one person; and

iii. Limit for loss or damage in any one accident to property of others (excluding cargo): $ 10,000.

(c) The minimum amounts of coverage for warehousemen are:

1. Warehousemen liability coverage at the rate of $ 1.00 per pound per article.

(d) The mover and/or warehouseman shall file with the Director in triplicate, on forms substantially similar to those determined by the National Association of Regulatory and Utilities Commissioners (NARUC) and promulgated by the Federal Motor Carrier Safety Administration (FMCSA), containing the following:

1. Bodily injury and property damage liability on Form E;

2. Cargo Insurance on Form H;

3. Notice of cancellation of insurance policies on Form K; and

4. Notice of cancellation of workers' compensation insurance policies on a form provided by the Compensation Rating and Inspection Bureau of the Department of Banking and Insurance.

(e) Every licensed public mover and/or warehouseman transporting and/or storing property for compensation shall make sufficient provision for the complete payment of any obligation which he or she may incur to an injured employee, or his or her dependents pursuant to 34:15-1 et seq., by one of the following methods:

1. Licensees may obtain adequate insurance from any stock company or mutual association authorized to transact the business of employer's liability or worker's compensation insurance in this State pursuant to 34:15-78, and must file a certificate of that coverage with the Director; or

2. Licensees may self-insure against worker's compensation liability by obtaining a written order granting an exemption from insuring the whole or any part of such liability from the Commissioner of Banking and Insurance pursuant to 34:15-77, a copy of which must be filed with the Director.

(f) If a public mover uses the services of owner/operators, the insurance policies of a public mover holds pursuant to (b) above shall cover the public mover's liability for acts or omissions of the owner/operators used by the public mover.

(g) Every certificate of insurance shall contain a provision for continuing liability and shall provide that cancellation thereof shall not be effective unless and until at least 30 days' notice of intention to cancel in writing has been received by the Director.

(h) All required insurance filings shall be made at the Office of Regulated Business, Division of Consumer Affairs, 124 Halsey Street, PO Box 45028, Newark, New Jersey 07101.

(i) Where a consumer requests the public mover and/or warehouseman to obtain increased coverage, specifically insurance, and the consumer pays the premium for the increased coverage, the public mover and/or warehouseman shall furnish the consumer with a certificate of insurance. Such certificate shall include the following:

1. The name of the insurance company issuing the additional coverage;

2. The policy number;

3. The certificate number;

4. The date;

5. The valuation amount;

6. The premium amount; and

7. The amount, if any, of any deductible for which the consumer would be liable.

(j) The public mover and/or warehouseman shall inform the Director, within 30 days, if an insurance policy lapses, is revoked or is not renewed for any reason.

N.J. Admin. Code § 13:44D-4.7

Amended by 49 N.J.R. 3543(a), effective 11/6/2017