NJ Regulator Proposes More Oversight Tools For Insurers

Law360, New York (August 6, 2013, 1:14 PM EDT) -- The New Jersey Department of Banking and Insurance on Monday issued proposed amendments that will increase the number of factors the commissioner of banking and insurance can analyze when determining if an insurer is in a hazardous financial condition.

If adopted, New Jersey's rules will reflect regulation issued by the National Association of Insurance Commissioners, which is an association that accredits state insurance regulatory agencies. The NAIC updated its hazardous financial conditions regulations in 2008, and has said that states must adopt the updates in order...
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