34:15-86. Insurance carrier directly liable
80 words·~1 min read·
/nj/title-34/chapter-15/34-15-86A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Every such contract shall provide, or be construed to provide, that, upon the death, insolvency or bankruptcy of the insured employer, or upon his assignment for the benefit of creditors, the insurance carrier shall immediately become directly liable for all compensation payments due to any injured employee or his dependents by virtue of prior agreement or award until completion thereof, or that may thereafter become due during the period for which the requisite premiums have been paid by the employer.