Fire, marine and casualty insurance companies: reserves, policies and related provisions

What this document is

N.J.S.A. Title 17 Chapter 36 - Fire, marine and casualty insurance companies: reserves, policies and related provisions (17:36-2 through 17:36-21, 45 sections) is a state statute published by New Jersey Legislature (Office of Legislative Services), bulk statute distribution. It is one of the New Jersey documents that insurance license exam questions are written from, including new jersey property & casualty, new jersey personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• N.J.S.A. 17:36-5.19 (Insured; perils insured against; amount of insurance; assignment, provision as to)

  “Every such fire insurance policy shall contain a provision that its assignment shall not be valid except with the written consent of the insurer.”

• N.J.S.A. 17:36-5.29 (Domestic servants or household employees; coverage)

  “Every homeowners' policy or other policy providing comprehensive personal liability insurance delivered, issued for delivery, or renewed in this State on or after the effective date of this act shall afford coverage against liability for the payment of any obligation which the policyholder may...”

• N.J.S.A. 17:36-5.16 (Binders)

  “Binders or other contracts for temporary insurance may be made orally for a period which shall not exceed ten days or in writing for a period which shall not exceed 60 days”

• N.J.S.A. 17:36-5.20a (Cancellation, non-renewal of homeowners insurance prohibited under certain circumstances)

  “No insurer authorized to do business in this State shall cancel or non-renew an insurance policy covering an owner occupied one-to-four family dwelling solely because of claims or losses due to weather-related damage or a third-party criminal act committed by someone who is not a resident of the...”

• N.J.S.A. 17:36-6 (Furnishing proofs of loss)

  “The failure of any person, insured against loss or damage by fire in any insurance company doing business under the authority of the department, to furnish proofs of loss shall not be considered a waiver of any rights accruing under the policy of insurance, and shall not debar the person so holding...”

• N.J.S.A. 17:36-5.31 (Information provided to policyholders by every fire, casualty insurer)

  “Every fire and casualty insurer, including the New Jersey Insurance Underwriting Association created pursuant to P.L.1968, c.129 (C.17:37A-1 et seq.), shall provide its policyholders of homeowners insurance, at the time of the issuance of the policy and with each renewal notice for the policy, with...”

• N.J.S.A. 17:36-12 (Priority of municipal claim; subordination to mortgage)

  “A municipal claim made in accordance with the provisions of this act shall be paramount to any other claims on the proceeds of the fire insurance policy, except the claim of the holder of a purchase money mortgage held as a first mortgage or an institutional lender which is a holder of a mortgage...”

• N.J.S.A. 17:36-5.38 (Earthquake damage endorsement, availability through homeowners' insurance policy)

  “Every insurer that is authorized to transact the business of homeowners' insurance in this State and that offers coverage for earthquake damage by endorsement to those homeowners' insurance policies shall inform insureds at the time of renewal of a homeowners' insurance policy, and applicants at...”

• N.J.S.A. 17:36-5.19 (Insured; perils insured against; amount of insurance; measure of recovery limb)

  “to the extent of the actual cash value of the property at the time of loss, but not exceeding the amount which it would cost to repair or replace the property with material of like kind and quality within a reasonable time after such loss, without allowance for any increased cost of repair or...”

• N.J.S.A. 17:36-5.28 (Authority to exclude loss or damage caused by nuclear reaction or radiation or radioactive contamination)

  “Insurers issuing a fire insurance policy or any permissible variation thereof, pursuant to the act to which this act is a supplement are authorized to affix thereto or include therein a written statement that the policy does not cover loss or damage caused by nuclear reaction or nuclear radiation...”

• N.J.S.A. 17:36-5.19 (Insured; perils insured against; amount of insurance)

  “Every such fire insurance policy shall insure, limited to the amounts of insurance specified therein, the named insured and legal representatives, to the extent of the actual cash value of the property at the time of loss, but not exceeding the amount which it would cost to repair or replace the...”

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• N.J.S.A. 17:29B-4: Unfair methods of competition and deceptive acts definedState statute
• N.J.S.A. Title 17 Chapter 1 - Department of Banking and Insurance; the Commissioner's powers (17:1-1 through 17:1-28, 23 sections)State statute
• N.J.S.A. Title 17 Chapter 16C - Retail Installment Sales Act (17:16C-1 through 17:16C-103, 125 sections)State statute
• N.J.S.A. Title 17 Chapter 1C - Department expenses, apportionment and assessment (17:1C-6.1 through 17:1C-48, 32 sections)State statute
• N.J.S.A. Title 17 Chapter 28 - Insurance policy provisions, including compulsory uninsured and underinsured motorist coverage (17:28-1 through 17:28-8, 16 sections)State statute
• N.J.S.A. Title 17 Chapter 29A - Rates and rating organizations (17:29A-1 through 17:29A-62, 73 sections)State statute
• N.J.S.A. Title 17 Chapter 29AA - Commercial insurance deregulation (17:29AA-1 through 17:29AA-34, 35 sections)State statute
• N.J.S.A. Title 17 Chapter 29B - Unfair trade practices in the business of insurance, complete chapter (17:29B-1 through 17:29B-19, 20 sections)State statute