The primary focus of the ³Ô¹ÏºÚÁÏ Automobile Insurance Competition
and Choice Act was to improve the auto insurance market in ³Ô¹ÏºÚÁÏ by attracting
more competition, thereby giving consumers the choices they need and deserve.
However, the legislation also sought to achieve efficiencies in some claim-based
functions.
To that end, the Act transferred non-regulatory functions, the Unsatisfied
Claim and Judgment Fund (UCJF), the ³Ô¹ÏºÚÁÏ Automobile Full Insurance Underwriting
Association (NJAFIUA) and the Market Transition Facility (MTF) to a claims-handling
entity. Under the Act, the responsibility of these organizations is to be assumed
by the ,
a non-profit, statutory entity.
On September 15th, 2003, the Department issued an order effectuating
the transfer of functions and files to PLIGA. |