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NJ S1463
Bill
Status
1/9/2024
Primary Sponsor
Joseph Lagana
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AI Summary
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Clarifies that violating the New Jersey Insurance Fraud Prevention Act voids motor vehicle liability insurance coverage, releasing the insurer from responsibility for claims by the fraudster or innocent persons injured in incidents connected to that voided policy
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Innocent persons injured by a vehicle with a fraud-voided insurance policy can seek compensation first from uninsured motorist coverage under their own auto insurance policy
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If no personal uninsured motorist coverage exists or that policy was also voided, innocent victims can file claims with New Jersey's Unsatisfied Claim and Judgment Fund
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Innocent victims whose only recourse is the Unsatisfied Claim and Judgment Fund are exempt from the verbal threshold requirements that normally limit lawsuits for non-economic damages
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Takes effect 90 days after enactment and amends the Motor Vehicle Security-Responsibility Law (P.L.1952, c.173)
Legislative Description
Clarifies the violation of "New Jersey Insurance Fraud Prevention Act" results in loss of motor vehicle liability insurance coverage in certain circumstances; provides coverage for innocent persons in certain situations involving insurance fraud.
Commerce
Last Action
Introduced in the Senate, Referred to Senate Commerce Committee
1/9/2024