N.J. Admin. Code § 5:14A-2.9

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

Section 5:14A-2.9 - Insurance, bond or other security

(a) No person shall operate a ride without:

1. A policy of insurance written on a per occurrence basis in an amount not less than $ 1,000,000 per occurrence insuring the owner against liability for injury suffered by persons riding the amusement ride; or

2. A bond in like amount; provided, however, that the appropriate liability of the surety under such bond shall not exceed the face amount thereof. The bond shall be in such form and content as to be acceptable to the Department of Banking and Insurance.

(b) The policy shall be issued by one or more insurers acceptable to the Commissioner of Banking and Insurance, and shall be either

1. Licensed to write insurance in the State of New Jersey; or

2. Approved as surplus lines insurers pursuant to section 11 of P.L. 1960, c.32, the "Surplus Lines Law."

N.J. Admin. Code § 5:14A-2.9