NJ S2279

Increases minimum liability insurance coverage for commercial motor vehicles with a gross vehicle weight rating of 26,001 pounds or more to $1,500,000 for bodily injury, death, or property damage in any one accident

Establishes a $500,000 minimum liability insurance coverage requirement for commercial motor vehicles with a gross vehicle weight rating between 10,001 and 26,000 pounds

Raises the minimum liability insurance coverage for autocabs (taxis) from $35,000 to $1,500,000 to cover claims for bodily injury, death, or property damage

Allows the new insurance requirements to be satisfied through commercial automobile insurance policies, fleet insurance policies, umbrella policies, excess policies, or any combination thereof

Takes effect on the first day of the sixth month following enactment and applies to all automobile insurance policies initiated or renewed on or after that date