Bill
Bill > A2427
NJ A2427
Prohibits use of education, occupation, and credit score as rating factors in automobile insurance underwriting.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill prohibits automobile insurers from assigning an insured or prospective insured to a rating tier based upon that person's: (1) educational level; (2) employment, trade, business, occupation or profession; or (3) credit score, or any information derived from an insured's credit report. The bill also prohibits automobile insurers from inquiring of an insured or applicant for insurance, or of a third-party concerning an insured or applicant, as to these factors.
AI Summary
This bill prohibits automobile insurers from using an insured or applicant's educational level, employment, occupation, or credit score as factors in assigning them to a rating tier for automobile insurance underwriting. The bill also prohibits insurers from inquiring about these factors when evaluating an insured or applicant. This is intended to prevent insurers from using these non-driving related factors to determine insurance rates.
Committee Categories
Business and Industry
Sponsors (7)
Wayne DeAngelo (D)*,
Annette Quijano (D)*,
Verlina Reynolds-Jackson (D)*,
Linda Carter (D),
Carmen Morales (D),
Bill Spearman (D),
Shanique Speight (D),
Last Action
Introduced, Referred to Assembly Financial Institutions and Insurance Committee (on 01/09/2024)
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/2024/A2427 |
| BillText | https://pub.njleg.gov/Bills/2024/A2500/2427_I1.HTM |
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