New Jersey Automobile Insurance Risk Exchange

State of New Jersey DEPARTMENT OF BANKING AND INSURANCE LEGISLATIVE AND REGULATORY AFFAIRS PO BOX 325 TRENTON, NJ 08625-0325 Tel (609) 984-3602 Fax (609) 292-0896 Visit us on the Web at www.njdobi.org New Jersey is an Equal Opportunity Employer • Printed on Recycled Paper and Recyclable JAMES E. MCGREEVEY Governor HOLLY C. BAKKE Commissioner BULLETIN NO.: 04-12 TO: ALL NEW JERSEY PRIVATE PASSENGER AUTOMOBILE INSURERS FROM: HOLLY C. BAKKE, COMMISSIONER, RE: NEW JERSEY AUTOMOBILE INSURANCE RISK EXCHANGE The purpose of this bulletin is to remind all New Jersey private passenger automobile insurers of their obligations to the New Jersey Automobile Insurance Risk Exchange (“NJAIRE”) pursuant to N.J.S.A. 39:6A-21. N.J.S.A. 39:6A-21 requires every insurer licensed to transact private passenger automobile insurance in this State to be a member of the exchange and to be bound by the rules of the exchange as a condition of their authority to transact insurance business in this State. All private passenger automobile insurers licensed to transact business in this State shall comply with the requirements of the NJAIRE’s Plan of Operation which include reporting, prompt payment of assessments and cooperation during compliance audits. In order for NJAIRE to properly perform its statutory duties, it is important that NJAIRE is aware of the individual in each member company who is responsible for NJAIRE compliance. Therefore, upon receipt of this letter forward the name of the individual within your organization responsible for NJAIRE compliance, and their contact information to NJAIRE at the following address: New Jersey Automobile Insurance Risk Exchange P.O. Box 66065 Lawrenceville, NJ 08648 7/26/04 /s/ Holly C. Bakke Date Holly C. Bakke, Commissioner DHT04-09/INOORD