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NJ S3134
Bill
Status
9/12/2024
Primary Sponsor
Patrick Diegnan
Click for details
AI Summary
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Prohibits automobile insurers in New Jersey from issuing motor vehicle liability insurance policies unless the individual first consults with a licensed insurance producer before purchase.
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Provides an exception for online sales: insurers may sell policies through websites without producer consultation if they provide the buyer with a cost benefit analysis prior to the sale.
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Directs the Department of Banking and Insurance to adopt regulations defining what constitutes a "consultation" and "cost benefit analysis" under this law.
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Excludes the New Jersey Automobile Full Insurance Underwriting Association and residual market mechanisms from these requirements.
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Takes effect immediately upon enactment.
Legislative Description
Requires MVC to take certain action concerning commercial driver licenses and commercial learner's permits.
Bills and Joint Resolutions Signed by the Governor
Last Action
Approved P.L.2024, c.72.
9/12/2024