Bill
Bill > S1141
NJ S1141
NJ S1141Requires insurers that sell flood insurance to provide certain policyholders with certain information.
summary
Introduced
02/08/2016
02/08/2016
In Committee
02/08/2016
02/08/2016
Crossed Over
Passed
Dead
01/08/2018
01/08/2018
Introduced Session
2016-2017 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 overseen by the Federal Emergency Management Agency (FEMA) to provide certain policyholders who are claimants for damage to the insured property with copies of all reports and documents, including drafts, redlines, markups, notes, measurements, photographs, and written communications, that have been prepared, collected, or taken by any engineer, adjuster, 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 bill specifies that this requirement applies to policyholders who held such a policy on October 28, 2012, the date Superstorm Sandy struck New Jersey and surrounding areas. The bill also empowers the Commissioner of Banking and Insurance to impose civil penalties on insurers who commit or perform violations of the bill's provisions with such frequency as to indicate a general business practice.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Commerce Committee (on 02/08/2016)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| BillText | https://www.njleg.state.nj.us/2016/Bills/S1500/1141_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2016/Bills/S1500/1141_I1.PDF |
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