SAIP Servicing Carrier Update
Effective January 1, 2023, National Specialty Insurance Company will be the sole SAIP and LSV Servicing Company for NJSAIP and NJLSV assignments.
Effective January 1, 2023, National Continental will cease taking NJSAIP and NJLSV assignments and will non-renew all NJLSV policies expiring January 1, 2023 and later.
CAIP Servicing Carrier Update
Effective September 1, 2022, National Specialty Insurance Company will be the sole CAIP Servicing Carrier for NJCAIP assignments.
Effective September 1, 2022, National Continental will cease taking NJCAIP assignments and will non-renew all NJCAIP policies expiring September 1, 2022 and later.
Important Information from Carriers of the New Jersey Automobile Insurance Plan
The New Jersey Automobile Insurance Plan Assigned Carriers understand the COVID-19 crisis is making it difficult for many businesses to meet current expenses. We want to help you maintain your insurance during this crisis.
For customers who can attest to a financial hardship as a result of the COVID-19 pandemic, we are following new rules instituted by the State of New Jersey, Bulletin No. 20-15, A policyholder may elect this 90 day emergency grace period to begin retroactively on April 1,2020, or opt for the grace period to begin on May 1, 2020.
This also includes, but is not limited to,
1. Waiver of late payments fees otherwise due, and not report late payments to credit rating agencies during the 90-day period
2. All premiums due but not paid during the 90-day period to be paid over the remainder of the current policy term or up to 12 months in up to 12 equal installments, whichever is longer, except an insurer may permit a longer repayment period
3. Ensure that late payments during the 90- day period are not considered in any future premium calculations at any time.
If you are unable to make your payment, please contact your assigned carrier or producer, to discuss billing and payment arrangements, and we will work with you to help maintain your insurance coverage.
The full Bulletin on this can be found at https://www.state.nj.us/dobi/bulletins/blt20_15.pdf
Thank you and stay safe.
Changes to the New Jersey Commercial Automobile Insurance Plan Application
Changes to CAIP Application:
- Effective 1/1/2020, a CAIP Inspected Units Form must be completed, signed and submitted for all applicants with any commercial applications or policy change requests that require Federal Highway Administration or Federal Motor Carrier Safety Administration filings or endorsements.
- Effective 1/1/2020, if a filing is requested, the Hired Car Coverage, Nonowned Auto Liability and Cost of Hire sections of the application are now mandatory fields that must be completed in order for coverage to be bound.
Implementation of Credit/Debit Cards for Deposits on SAIP Applications
On June 3, 2019, the New Jersey Automobile Insurance Plan introduced an additional electronic payment (E-Pay) option. SAIP applicants can now use credit/debit cards to pay for deposits on new business SAIP applications submitted through the Plan’s Electronic Application Submission interface, EASi 2.0.
Official Payments, the third party vendor, charges a convenience fee of $4.95 to the applicant/cardholder for processing the payment. This $4.95 fee is a separate fee, and not a part of the deposit premium.
Once an application is submitted, the credit/debit card is charged immediately, so producers must scan and upload or fax the application within one (1) business day along with the signed Credit/Debit Card Payment Authorization and Receipt form to the Plan. For applications being faxed, please include the Fax Cover Sheet generated by the EASi system.