The New Jersey Surplus Lines Insurance Guaranty Fund (“NJSLIGF”) was established in 1984 pursuant to the New Jersey Surplus Lines Insurance Guaranty Fund Act, N.J.S.A. 17:22-6.70 et seq. (“NJSLIGF Act”).
The Fund provides a safety net for policyholders and claimants of insolvent surplus lines companies by providing statutory benefits to insureds and claimants of such insolvent companies. The Fund Act requires all eligible, non-admitted insurers to be members of the Fund. On or after June 25, 2002, the Fund’s coverage was reduced and only provides coverage for eligible surplus lines insurers issuing medical malpractice liability insurance or property insurance covering owner occupied dwellings of less than four dwelling units.