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An owner controlled insurance program (OCIP) is an insurance policy held by a property owner during the construction or renovation of a property, which is typically designed to cover virtually all liability and loss arising from the construction project (subject to the usual exclusions). [1]
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]
The New Jersey Department of Banking and Insurance (DOBI) is one of 15 principal departments in New Jersey government. The department's mission is to regulate the banking, insurance and real estate industries in a professional and timely manner that protects and educates consumers and promotes the growth, financial stability and efficiency of these industries. [1]
An Eatontown contractor has agreed to pay $530,000 in back wages and penalties after investigators found the company violated labor protections for 181 workers on a residential construction site ...
Coverage can be purchased by the property owner or general contractor. [6] Builder's risk coverage may be necessary to show proof of insurance to comply with local city, county, and state building codes and is often required as a condition to many contracts.
Open enrollment began Wednesday for Get Covered NJ, the state marketplace used by NJ residents who don't get health insurance through an employer. How much will you pay in NJ for ACA health ...
Key takeaways. $15,000 of PIP insurance is legally required in New Jersey, but you can purchase up to $250,000 of PIP for additional protection.
During the mid-1990s the insurance market softened, so, in many cases, it was cheaper to purchase liability insurance through traditional insurance carriers. While many RRGs were formed during the decade, many more ceased operating. In the year 2000, the number of RRGs had only grown to 65 in the 14 years since the passage of the Act.
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