17:30E-6.1 - Association data bank - New Jersey Statutes

17:30E-6.1.  Association data bank
     a.   The board shall, within 60 days following the effective date of this 1988 amendatory and supplementary act, contract for the establishment of an association data bank to facilitate the dissemination of information regarding association risks to all insurers transacting the business of private passenger automobile insurance in the voluntary market.

    b.   The board shall establish the type of information which may be made available to insurers, which may include, but not be limited to, the name, address, and classification of the insured, a description of the vehicle, the loss history of the insured, the limits of coverage on the policy, and the producer of record.

    c.   The board shall make this data available to all insurers writing private passenger automobile insurance in the voluntary market in a nondiscriminatory manner to facilitate the insurers' depopulation of the association.

    d.   The establishment of this data bank may be incorporated in the plan of operation of the association, but it shall not require the approval of the commissioner.  The data bank shall be fully operational within five months of the effective date of this section.

    L. 1988, c. 119, s. 23; amended 1988,c.156,s.3.