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17:51B-3. Reduction in liability for reinsurance ceded
New Jersey Statutes (Unannotated) / NEW JERSEY GENERAL AND PERMANENT STATUTES (UPDATED THROUGH P.L.2023, c.228, and J.R.15) / TITLE 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
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17
:
51B-3
.
Reduction
in
liability
for
reinsurance
ceded
17
:
51B-3
.
Reduction
in
liability
for
reinsurance
ceded
3. A
reduction
in
liability
for the
reinsurance
ceded
by an insurer which is domiciled in New Jersey, or which is either licensed in New Jersey or eligible to write surplus lines insurance in...
... New Jersey and which in either case is domiciled in a state or country which does not employ standards regarding credit for
reinsurance
substantially similar, as determined by the commissioner, to those applicable under this act, shall be allowed in an amount not exceeding the liabilities carried by...
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