Kobylowski Relaxes Rules on Surplus Lines Carriers

New Jersey Banking and Insurance Acting Commissioner Kenneth Kobylowski has adopted a rules change that will relax the "seasoning" requirements for out-of-state property and casualty insurers.Changes to 44 New Jersey Administrative Regulation 1900 (a) were posted in the July 2 edition of the New Jersey Register.The changes took effect on July 2 and will remain in effect through Oct. 24, 2018.The revised regulation requires that an insurer domiciled outside of New Jersey must have been licensed to operate in its home state or territory for at least three years before applying for a New Jersey l...