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New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Chapter 47: Insurance on Lloyds plan authorized
Section: 17:47-8: Exposure to loss limited
No association of underwriters authorized hereunder to do business in this state shall expose themselves to loss on any one risk in excess of ten per cent of their net cash and invested assets and of the underwriting liability of the individual underwriters. So much, however, of any risk as shall be reinsured in an association of underwriters or insurance corporation lawfully transacting business in this state, shall not be considered part of the risk.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17:47-8 (if available):
Court decisions that cite this statute:
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