Bill
Bill > S124
NJ S124
NJ S124Requires insurers that sell flood insurance to provide certain policyholders with certain information.
summary
Introduced
01/14/2020
01/14/2020
In Committee
01/14/2020
01/14/2020
Crossed Over
Passed
Dead
01/11/2022
01/11/2022
Introduced Session
2020-2021 Regular Session
Bill Summary
This bill requires insurers who sell flood insurance to provide to certain of their policyholders, who are claimants for damage to the insured property, information relating to claims for damage to their properties. More specifically, the bill stipulates that every insurer selling and advertising flood insurance in this State through the National Flood Insurance Program overseen by the Federal Emergency Management Agency shall provide to each of its flood insurance policyholders who held such policy on October 28, 2012, and is a claimant for damage to the insured property, copies of all reports and documents, including any drafts, redlines, markups, notes, measurements, photographs and written communications related thereto, that have been prepared, collected or taken by any engineer, adjustor or other agent or contractor affiliated with the insurer or any other defendant in a claim dispute, relating to the properties and damage at issue. The date of October 28, 2012, enumerated in the bill, corresponds to the date that Superstorm Sandy struck New Jersey and surrounding areas.
AI Summary
This bill requires insurers who sell flood insurance through the National Flood Insurance Program to provide certain policyholders who are claimants for property damage with copies of all reports, documents, and communications related to the damage claims. The bill specifically targets policyholders who held a policy on October 28, 2012, which corresponds to the date of Superstorm Sandy's impact in New Jersey. The bill also allows the Commissioner of Banking and Insurance to impose civil penalties on insurers who violate these provisions.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Commerce Committee (on 01/14/2020)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2020/S124 |
| BillText | https://www.njleg.state.nj.us/Bills/2020/S0500/124_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2020/S0500/124_I1.PDF |
| BillText | https://www.njleg.state.nj.us/2020/Bills/S0500/124_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2020/Bills/S0500/124_I1.PDF |
Loading...