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IN RE REORGANIZATION OF MEDICAL INTER-INSURANCE EXCHANGE OF NEW JERSEY

746 A.2d 25 (2000)

328 N.J. Super. 344

In the Matter of the REORGANIZATION OF the MEDICAL INTER-INSURANCE EXCHANGE OF NEW JERSEY.

Superior Court of New Jersey, Appellate Division.

Decided February 14, 2000.

Attorney(s) appearing for the Case

H. Curtis Meanor, Newark, for appellants, Allen B. Gold, Robert A. Goldstone, and Morton J. Seligman (Lampf, Lipkind, Prupis, Petigrow and LaBue, attorneys; Neil L. Prupis, on the brief, West Orange).

Mitchell A. Newmark, Deputy Attorney General, for respondent New Jersey Department of Banking and Insurance (John J. Farmer, Jr., Attorney General, attorney; Joseph L. Yannotti, Assistant Attorney General, of counsel; Mr. Newmark, on the brief).

Hersh Kozlov, Cherry Hill, for respondent Medical Inter-Insurance Exchange of New Jersey (Kozlov, Seaton, Romanini, Brooks & Greenberg, attorneys; Mr. Kozlov, of counsel; Gregory A. Lomax, Frank A. DiGiacomo and John J. Dugan, on the brief).

David J. D'Aloia, Newark, for intervenor Medical Society of New Jersey (Saiber Schlesinger Satz & Goldstein, attorneys; Mr. D'Aloia, of counsel; Joan M. Schwab and Adam S. Ravin, on the brief).

Before Judges KLEINER, PAUL G. LEVY and CARCHMAN.

The opinion of the court was delivered by CARCHMAN, J.A.D.

In response to the increasing burden imposed on the medical profession by high malpractice insurance premiums, respondent Medical Inter-Insurance Exchange of New Jersey (MIIX) was established in 1977 as a reciprocal insurance exchange to provide medical malpractice liability and related lines of insurance. In 1997, in an effort to "enhance its strategic and financial...

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