P&CNJmedium
Under New Jersey's Insurance Holding Company System Act, what filing must a person make with DOBI before acquiring control of a domestic insurer?
AA simple notice letter with no Commissioner review required, filed thirty days after closing the transaction
A Form A statement subject to the Commissioner's prior approval after a public hearing
CA Form A filed solely with the U.S. SEC for federal review, bypassing state regulatory oversight entirely
DA nonbinding advisory opinion request to the NAIC, submitted in lieu of any state filing
Why this is the answer
N.J.S.A. 17:27A-2 (NJ Insurance Holding Company System Act) requires any person seeking to acquire control of a NJ-domiciled insurer (presumed at 10% ownership) to file a Form A. The Commissioner holds a public hearing and may approve, deny, or condition the transaction.
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