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NJ S3133
Bill
Status
Introduced
1/13/2026
Primary Sponsor
Nicholas Scutari
Click for details
AI Summary
- Eliminates the New Jersey Automobile Insurance Risk Exchange (AIRE), a mandatory exchange that compensates insurers for claims paid under certain tort options
- Removes all references to AIRE charges and AIRE compensation from insurance profit reporting requirements under existing law
- Repeals sections 15 and 16 of P.L.1983, c.362 and section 12 of P.L.1985, c.520, which established and governed AIRE
- Requires any savings realized by private passenger automobile insurers from AIRE's elimination to be deposited into the Pedestrian Safety Enforcement and Education Fund
- Takes effect on the first day of the third month following enactment
Legislative Description
Eliminates New Jersey Automobile Insurance Risk Exchange.
Commerce
Last Action
Introduced in the Senate, Referred to Senate Commerce Committee
1/13/2026
Committee Referrals
Commerce1/13/2026
Full Bill Text
No bill text available