[DOWNLOAD] "Matter of Commissioner of Insurance''s March 24" by New Jersey Supreme Court A-62 September Term 1992 # eBook PDF Kindle ePub Free
eBook details
- Title: Matter of Commissioner of Insurance''s March 24
- Author : New Jersey Supreme Court A-62 September Term 1992
- Release Date : January 24, 1993
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 82 KB
Description
The opinion of the court was delivered by O'HERN, J. This appeal concerns the plan of operation created by the Fair Automobile Insurance Reform Act of 1990, N.J.S.A. 17:33B-1 to -63 (the Fair Act, FAIRA, or the Act). The Fair Act created the Market Transition Facility (MTF or the facility) as an agency to provide automobile-insurance coverage to high-risk drivers during a two-year phaseout of the Joint Underwriting Association (JUA), which had been created by the New Jersey Automobile Full Insurance Availability Act, L. 1983, c. 65 (C.17:30E-4) (the JUA Act). The specific issue is the validity of the Commissioner of Insurance's March 24, 1992 Order (the Order or the March 24 order), imposing ""transitional assessments"" of $169 million on insurance companies for their asserted failure to meet the Act's ""depopulation"" quotas established to transfer drivers from the MTF into the private insurance market.