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IFA INS. CO. v. NEW JERSEY DEPT. OF INS.

195 N.J. Super. 200 (1984)

478 A.2d 1203

IFA INSURANCE COMPANY, PLAINTIFF-APPELLANT, v. NEW JERSEY DEPARTMENT OF INSURANCE, AND THE NEW JERSEY AUTOMOBILE FULL INSURANCE UNDERWRITING ASSOCIATION, DEFENDANTS-RESPONDENTS.

Superior Court of New Jersey, Appellate Division.

Decided July 20, 1984.

Attorney(s) appearing for the Case

Richard D. Catenacci argued the cause for appellant (Connell, Foley & Geiser, attorneys; Richard D. Catenacci and Daniel J. Pomeroy, on the briefs).

Patrick J. Hughes, Deputy Attorney General, argued the cause for respondent, New Jersey Department of Insurance (Irwin I. Kimmelman, Attorney General of New Jersey, attorney; Deborah T. Poritz, Deputy Attorney General, of counsel; Patrick J. Hughes, Deputy Attorney General, on the brief).

William B. McGuire argued the cause for respondent New Jersey Automobile Full Insurance Underwriting Association (Tompkins, McGuire & Wachenfeld, attorneys; Francis X. Crahay and Steven Backfisch, on the brief).

Before Judges KING, DREIER and BILDER.

The opinion of the court was delivered by BILDER, J.S.C. (Temporarily Assigned)

On this appeal we are asked to pass on the validity of a requirement that an insurance company have a $5 million policyholder surplus in order to participate as a servicing carrier for the State's revised program for automobile liability insurance for high-risk drivers who cannot otherwise obtain coverage. The requirement is challenged by a carrier, IFA

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