P&CNJeasy
Before transacting the business of insurance in New Jersey, an insurer must obtain which authorization from DOBI?
AA surplus lines broker license only, which suffices for an admitted carrier to transact business directly in New Jersey without further authorization
BRegistration with the NJ Secretary of State
A certificate of authority issued by the Commissioner of Banking and Insurance
DA franchise from the NJ Attorney General
Why this is the answer
N.J.S.A. Title 17 makes the certificate of authority the threshold license for admitted insurers. Without one, the insurer is unauthorized and may only access the NJ market through the surplus lines mechanism under N.J.S.A. 17:22-6.40 et seq.
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