summary
Introduced
02/07/2022
02/07/2022
In Committee
02/07/2022
02/07/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
This bill requires the Department of Banking and Insurance to conduct an investigation of practices of the automobile insurance industry in regard to increases in automobile insurance premiums for drivers who have had motor vehicle driver's license suspensions for any reason - either driving related or not. Further, the commissioner of the department is to investigate the use of credit ratings and addresses in determining premiums for drivers. In performing its investigation, the department is to determine whether increases are justified for certain offenses not related to driving including credit ratings. This bill was prompted by a recommendation from the Motor Vehicles Affordability and Fairness Task Force.
AI Summary
This bill requires the Department of Banking and Insurance to conduct an investigation of the automobile insurance industry's practices regarding increases in premiums for drivers who have had their driver's licenses suspended, regardless of whether the suspension was related to driving. The investigation will also examine the use of credit ratings and addresses in determining premiums. The bill aims to determine whether factors such as non-driving related suspensions and credit ratings justify increases in automobile insurance premiums. The findings of the investigation will be reported to the Governor and the Legislature within two years.
Committee Categories
Business and Industry
Sponsors (3)
Last Action
Introduced, Referred to Assembly Financial Institutions and Insurance Committee (on 02/07/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/A2148 |
| BillText | https://www.njleg.state.nj.us/Bills/2022/A2500/2148_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/A2500/2148_I1.PDF |
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