Bill
Bill > S2654
NJ S2654
Prohibits use of education, occupation, and credit score as rating factors in automobile insurance underwriting.
summary
Introduced
06/04/2018
06/04/2018
In Committee
05/13/2019
05/13/2019
Crossed Over
03/25/2019
03/25/2019
Passed
Dead
01/08/2020
01/08/2020
Introduced Session
2018-2019 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 prospective insured's educational level, employment, trade, business, occupation or profession, or credit score (or any information derived from their credit report) as factors in assigning them to a rating tier. The bill also prohibits insurers from inquiring about these factors when underwriting or rating automobile insurance policies. The bill aims to ensure that automobile insurance rates are not unfairly influenced by these non-driving-related factors.
Committee Categories
Business and Industry
Sponsors (5)
Last Action
Received in the Assembly, Referred to Assembly Financial Institutions and Insurance Committee (on 05/13/2019)
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/2018/Bills/S3000/2654_R1.HTM |
| Bill | https://www.njleg.state.nj.us/2018/Bills/S3000/2654_R1.PDF |
| BillText | https://www.njleg.state.nj.us/2018/Bills/S3000/2654_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2018/Bills/S3000/2654_I1.PDF |
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