summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 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 mandates that the Commissioner of Banking and Insurance investigate how automobile insurance companies are increasing premiums for drivers who have had their driver's licenses suspended, specifically comparing increases for driving-related suspensions versus non-driving-related suspensions. The investigation will also examine the use of credit ratings and addresses in setting these premiums, determining if factors like non-driving related suspensions or credit scores are justified reasons for higher costs. This initiative stems from a recommendation by the Motor Vehicles Affordability and Fairness Task Force, and the findings will be reported to the Governor and the Legislature within two years of the investigation's start, with the act expiring 90 days after the report is submitted.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced, Referred to Assembly Financial Institutions and Insurance Committee (on 01/13/2026)
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/2026/A1681 |
| BillText | https://pub.njleg.gov/Bills/2026/A2000/1681_I1.HTM |
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