N.J. Stat. tit. 17, ch. 23B

in effect

N.J. Stat. § 17:23B-1 Definitions

1. For purposes of this act: "Commissioner" means the Commissioner of Insurance. "Department" means the Department of Insurance. "Insurer" means: a. A corporation, association, partnership, reciprocal exchange, interinsurer, Lloyd's insurer, fraternal benefit society or other person engaged in the business of insurance pursuant to Subtitle 3 of Title 17 of the Revised Statutes (R.S.17:17-1 et seq.), or Subtitle 3 of Title 17B of the New Jersey Statutes (N.J.S.17B:17-1 et seq.); b. Any medical service corporation operating pursuant to P.L.1940, c.74 (C.17:48A-1 et seq.); c. Any hospital service corporation operating pursuant to P.L.1938, c.366 (C.17:48-1 et seq.); d. Any health service corporation operating pursuant to P.L.1985, c.236 (C.17:48E-1 et al.); and e. Any dental service corporation operating pursuant to P.L.1968, c.305 (C.17:48C-1 et seq.). "NAIC" means the National Association of Insurance Commissioners. L.1993,c.238,s.1.

N.J. Stat. § 17:23B-2 Filing of information with NAIC

2. a. Every insurer authorized to do business in this State shall annually, on or before March 1 of each year, file with the NAIC a copy of its annual statement of financial condition, along with such additional filings, as prescribed by the commissioner pursuant to law for the preceding year. The information filed with the NAIC shall be in the same form and detail as that required by the commissioner and shall include the signed jurat page and the actuarial certification. Any amendments and addendums to the annual statement of financial condition and any other financial information subsequently filed with the commissioner, including, but not limited to, quarterly financial statements, shall also be filed with the NAIC at the time this information is filed with the commissioner. b. Foreign insurers that are domiciled in a state which has a law substantially similar to subsection a. of this section shall be deemed in compliance with this section. c. The commissioner may require other entities which are required to file financial information with the commissioner to file such information with the NAIC. L.1993,c.238,s.2.

N.J. Stat. § 17:23B-3 Immunity from civil liability

3. Members of the NAIC, their duly authorized committees, subcommittees, and task forces, their delegates, NAIC employees, and all others charged with the responsibility of collecting, reviewing, analyzing and disseminating the information developed from the filing of the annual statement of financial condition shall be acting as agents of the commissioner under the authority of this act, and in the absence of actual malice, shall not be subject to civil liability for libel, slander or any other cause of action by virtue of their collection, review, and analysis or dissemination of the data and information collected from the filings required hereunder. Nothing herein shall abrogate or lessen the common and statutory law privileges and immunities of an authorized governmental agency or any of its respective employees. L.1993,c.238,s.3.

N.J. Stat. § 17:23B-4 Confidentiality

4. All financial analysis ratios and examination synopses concerning insurers that are submitted to the department by the NAIC Insurance Regulatory Information System are confidential and may not be disclosed by the department. L.1993,c.238,s.4.

N.J. Stat. § 17:23B-5 Violations; penalties

5. a. The commissioner may suspend, revoke or refuse to renew the certificate of authority of any insurer or other entity that fails to file information with the NAIC as required by this act when due or within any extension of time which the commissioner, for good cause, may have granted. b. In addition, or as an alternative to any other penalty, the commissioner may impose a fine of up to $5,000 for the first violation of any provision of this act, and up to $10,000 for each subsequent violation. Each day of delay in filing information as required by this act shall constitute a separate violation. L.1993,c.238,s.5.

Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.njleg.state.nj.us/legislative-activity/statutesFetched: 10/17/2026