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New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Chapter 47b:
Section: 17:47b-10: Provision of reinsurance on risks ceded by other insurers.
10. a. A captive insurance company may provide reinsurance on risks ceded by any other insurer.
b. A captive insurance company may take credit for the reinsurance of risks or portions of risks ceded to reinsurers complying with the provisions of P.L.1993, c.243 (C.17:51B-1 et seq.). A captive insurance company shall not take credit for the reinsurance of risks or portions of risks ceded to reinsurers not complying with P.L.1993, c.243 (C.17:51B-1 et seq.).
c. For purposes of this act, insurance by a captive insurance company of any workers' compensation qualified self-insured plan of its parent and affiliates shall be deemed to be reinsurance.
L.2011, c.25, s.10.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17:47b-10 (if available):
Court decisions that cite this statute:
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