PIA Search

Results 1121 - 1130 of 3226

  1. When do points accrue for an at-fault accident? | Ask PIA

    Our insured recently was involved in an auto accident for which the company set up a reserve. So far, the company has not paid any money out on this claim. But they are charging points for the accident at renewal. Can they do this?

    No. The regulation states that “points for at-fault accidents shall accrue on the date that total payment by the insurer equals or exceeds $1,000. An insurer may, at its option, use the date of the accident or the date of first payment provided, however, that the insurer shall not underwrite...

  2. Definition of employment | Ask PIA

    A not-for-profit group oriented toward American history maintains a museum for which we have written a workers’ compensation policy in the past. We recently received a request from the group to nonrenew the policy, based on the premise that they no longer have an employee. In discussing it with them,...

    Yes, they probably would. New Jersey’s Workers’ Compensation Law is exceptionally broad. The Compensation Rating and Inspection Bureau spelled this out to PIANJ in relation to a question involving real-estate salespeople, quoting from a court decision that stated in part: The term ’employee’ in our Workers’ Compensation Act...

  3. Total loss | Ask PIA

    My insured’s car was declared a total loss following an accident. The company is paying the loss, but is refusing to take title of the vehicle for salvage. My insured does not want to deal with the totaled vehicle. Can the insurer require him to keep the title?

    It is the insurance company’s option. Under N.J.A.C. 11:3-10.4(j), “If the vehicle is a total loss, the insurer may require that the insured transfer ownership of the vehicle to recoup salvage as a condition of settlement (emphasis added).” So, the company could require a transfer of the title, but the...

  4. Calculating payroll—retirees | Ask PIA

    We insure a business for workers’ compensation. The company has had a profit-sharing plan for more than 30 years. It has an individual who retired from his former position and collects his benefits under the profit-sharing plan but has returned to work as a part-time employee. The insurer is including...

    No. When retirees receive the distributions from such plans, the distributions should not be considered as payroll. When asked for an opinion, the Compensation Rating and Inspection Bureau furnished this clarification: The intent of Manual Rule 3:3-30(c) is to include as remuneration contributions made in the form of employee-authorized...

  5. No insolvency protection for bonds | Ask PIA

    Are bonds covered by New Jersey’s Property-Liability Insurance Guaranty Association?

    There is no protection from PLIGA, as it applies to “all kinds of direct insurance” except for a laundry list of various lines. The list of exceptions includes “surety bonds” and “fidelity insurance.” According to a spokesperson for PLIGA, this language is broadly interpreted as excluding all forms of bonds from...

  6. Returning unearned premiums | Ask PIA

    Our agency has a question regarding the permissibility of a company practice with respect to returning premiums generated due to an endorsement on an auto policy in New Jersey. The insured had fully paid the premium for the policy term. An endorsement to the policy midterm has generated a credit...

    The premium should be returned within 60 days, according to N.J.S.A. 17:29C-4.1.

  7. Anti-theft discounts | Ask PIA

    What type of premium credits are available for etching Vehicle Identification Numbers (VINs) on windows? Are the credits mandatory or voluntary for the insurance company?

    A mandatory premium credit of at least 15 percent off physical damage coverage is required for vehicles with etching that meets state standards. To meet standards as stated in N.J.A.C. 11:3-39.5(c)11 the etching identification system must:include a warning label that announces the presence of the system; etch a specific, identifiable...

  8. Collision damage waiver | Ask PIA

    Has the collision damage waiver amount changed recently from $100?

    I know this is confusing, but the collision damage waiver, and what the current law refers to as optional vehicle protection, is a contractual waiver purchased by the renter to avoid liability for damage to the rental car. Collision damage waiver insurance did not have a $100 cap; in fact,...

  9. ’Response to emergency’ surcharge exemption | Ask PIA

    What’s the rule exempting accidents involving emergency workers from surcharges?

    If an accident occurs under the following circumstances, it is not considered an “at-fault” occurrence: the accident occurred as a result of operation of any motor vehicle in response to an emergency if the operator at the time of the accident was responding to the call to duty as a paid or volunteer...

  10. Off-premises collection needs license | Ask PIA

    We have become aware of a practice by a life insurance agency of letting paramedics pick up insurance premiums. Under this marketing program, the agency does mailings, then has paramedics get the policy signed and collect the premium. Is this legal?

    Unless the paramedics also are licensed insurance producers, the practice you describe violates New Jersey’s licensing regulations. N.J.A.C. 11:17A-1.4(b)(5) states a producer’s license is necessary for “collecting premiums in person at other than a recorded place of business.”

Search
Filter Clear