NJ: NJCRIB Issues Reminder Concerning Administrative Sanctions

NEWARK, NJ - The NJCRIB has issued a reminder that effective September 1, 2010, the Bureau will begin enforcing a new rule on administrative sanctions. For example, administrative sanction charges may result from, but are not limited to, a carrier’s failure to timely submit a response to correspondence from the Underwriting Division concerning subjects such as the Test Audit Program; audit revisions; requests for information; endorsements required as a result of field audits, field inspections, and field conferences; and general correspondence. Enforcement will apply to both the voluntary and residual markets.

Read the advisory bulletin

Source: New Jersey Compensation Rating & Inspection Bureau