N.J. Admin. Code § 11:2-26.1

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

Section 11:2-26.1 - Purpose

(a) The purpose of this subchapter is to improve the Department's surveillance of the financial position of insurers by requiring:

1. An annual audit by independent certified public accountants of the financial statements reporting the financial position and the results of operations of insurers;

2. Communication of internal control related matters noted in an audit; and

3. Management's report of internal control over financial reporting.

(b) This subchapter shall not be construed to prohibit, preclude or in any way limit the Commissioner from ordering, conducting or performing examinations of insurers pursuant to law.

N.J. Admin. Code § 11:2-26.1

Amended by R.1993 d.68, effective 2/1/1993.
See: 24 N.J.R. 1940(a), 24 N.J.R. 2708(a), 25 N.J.R. 588(a).
Financial "condition" changed to financial "position".
Amended by R.1996 d.3, effective 1/2/1996.
See: 27 N.J.R. 3278(b), 28 N.J.R. 152(b).
Added (b).
Amended by R.2010 d.026, effective 1/19/2010.
See: 41 N.J.R. 3364(a), 42 N.J.R. 486(b).
Rewrote (a).