Bill
Bill > A3079
NJ A3079
NJ A3079Prohibits use of gap in automobile insurance coverage as rating factor in automobile insurance underwriting under certain circumstances.
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 provides that no underwriting rule shall operate in such a manner as to assign a risk to a rating plan on the basis that a previously insured applicant has had a lapse as a named insured under an automobile insurance policy for any period of time.
AI Summary
This bill prohibits the use of a gap in automobile insurance coverage as a rating factor in automobile insurance underwriting under certain circumstances. Specifically, the bill states that no underwriting rule shall operate in such a manner as to assign a risk to a rating plan on the basis that a previously insured applicant has had a lapse as a named insured under an automobile insurance policy for any period of time. This change to the existing law aims to prevent insurers from penalizing drivers for having a gap in their insurance coverage, which can negatively impact their insurance rates.
Committee Categories
Business and Industry
Sponsors (1)
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/A3079 |
| BillText | https://pub.njleg.gov/Bills/2024/A3500/3079_I1.HTM |
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