N.J. Admin. Code § 11:15-1.15

Current through Register Vol. 56, No. 21, November 4, 2024

Section 11:15-1.15 - Contribution payment; reserves

(a) The group shall establish to the satisfaction of the Commissioner a contribution payment plan.

(b) The group shall establish and maintain actuarially appropriate loss reserves, which shall include reserves for: (1) known claims and expenses associated therewith; and (2) claims incurred but not reported and expenses associated therewith.

(c) The group shall establish and maintain bad debt reserves based on the historical experience of the group.

N.J. Admin. Code § 11:15-1.15