New Jersey Statutes
§ 17:47B-10 — Provision of reinsurance on risks ceded by other insurers.
New Jersey·Title 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
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.
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Nearby Sections
15
§ 17:47B-12
Taxes paid by captive insurance company.§ 17:47B-14
Applicability of C.17:30C-1 et seq.§ 17:47B-15
Rules.§ 17:47B-16
Conversion, merger into reciprocal insurer.§ 17:47B-17
Sponsored captive insurance company.§ 17:47B-3
Conditions for issuance of license.