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Code · New Jersey · New Jersey Statutes

17:29AA-25. Apportionment and rate modifications; agreements among insurers; approval

76 words·~1 min read·/nj/17-63

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Agreements may be made among insurers with respect to equitable apportionment among them of insurance which may be afforded applicants who are in good faith entitled to but are unable to procure insurance through ordinary methods and the insurers may agree among themselves on the use of reasonable rate modifications for such insurance, provided that the agreements and rate modifications shall be effective only upon the prior approval of the commissioner.
L.1982, c. 114, s. 25.
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