Requires DOBI to provide compensation to members of self-funded multiple employer welfare arrangements under certain circumstances.

This bill requires New Jersey's Commissioner of Banking and Insurance (DOBI) to compensate members of self-funded multiple employer welfare arrangements (MEWAs) for 60% of court-ordered assessments when the MEWA fails due to external factors beyond its control - such as pandemics, natural disasters, or emergencies - not due to mismanagement. It mandates that courts consider these external factors before ordering assessments, and DOBI must cover 60% of the costs to pay unpaid claims if the failure isn't the MEWA's fault. The law also requires MEWAs to clearly disclose to employers and employees that they are not insurance companies and lack state guarantee fund protections. This directly affects MEWA members (typically employers or employees in pooled health benefit plans) by providing financial recourse if the MEWA becomes insolvent due to unavoidable events. The bill takes effect immediately and applies retroactively to May 1, 2021.