New Jersey § 34:15-81

§ 34:15-81.

Any contract of insurance issued by a stock company or mutual association against

liability arising under this chapter may be canceled by either the employer or the

insurance carrier within the time limited by such contract for its expiration. No such policy shall be deemed to be canceled until: a. At least ten days' notice in writing of the election to terminate such contract

is given by registered mail by the party seeking cancellation thereof to the other

party thereto; and b. Until like notice shall be filed in the office of the commissioner of banking and

insurance, together with a certified statement that the notice provided for by paragraph

“a” of this section has been given; and c. Until ten days have elapsed after the filing required by paragraph “b” of this

section has been made. The provisions “b” and “c” of this section shall not apply where the employer has

replaced the contract to be canceled by other insurance, and notice of such replacement

has been filed with the Commissioner of Banking and Insurance. In such event the notice required by provision “a” may, if given by the insurance

carrier, recite as the termination date the effective date of the other insurance,

and the contract shall be terminated retroactively as of that date. No notice of cancellation of any such contract need be filed in the office of the

Commissioner of Banking and Insurance where the employer is not required by any law

of this State to effect such insurance.