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Due to the large number of multi-state insurers, the department utilizes a national state-based system of regulation in order to help meet this core mission. The Office's Captives Unit oversees New Jersey's captive insurance market, which opened for business in 2011 [15] and currently includes ten captive insurers.
NJM Insurance Group, originally known as New Jersey Manufacturers Casualty Insurance Company, formed as a workers’ compensation insurance company on June 7, 1913, two years after New Jersey passed the Workmen's Compensation Act [4] which required all employers to carry insurance coverage for injured workers. [5]
It was created under the authority of section 121.02 of the Ohio Revised Code (ORC) and is administered by the Director of Insurance. Insurance companies operating in the state of Ohio are subject to regulation under Title 39; and depending upon the entity of the organization, Chapters 1751 and 1753 of the ORC. ODI is charge with seeing that ...
Penalty type. First offense. Subsequent offenses. Fines. $300 to $1,000. Up to $5,000. License suspension. Up to one year. Two years. NJ MVC surcharge. $100 for license reinstatement
Ohio state law requires drivers to maintain liability insurance in order to drive in the state. Ohio auto insurance requirements are referred to as the 25/50/25 rule.
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New Jersey also has strict laws around car insurance fraud. Giving false information to an insurance company when filing a claim or applying for a policy can result in jail time, a $15,000 fine ...
2010 - Medical Mutual selected to run the Ohio High Risk Pool by the Ohio Department of Insurance. [12] The program ended in March 2013. 2011 - Medical Mutual, for the third consecutive year, makes the InformationWeek 500 annual listing of the nation's most innovative users of business technology.