NJ S4040

Requires automobile insurance rating territories to be defined by contiguous zip code+4 areas (rather than current zip code areas) that follow municipal boundaries as closely as possible

Increases the maximum number of rating territories from 50 to 100 territories statewide

Applies to territorial rating plans filed by insurers writing private passenger automobile insurance in New Jersey

Takes effect 120 days after enactment and applies only to territorial rating plans filed after that date

Amends P.L.1998, c.21 (C.17:29A-48) governing territorial rating plan standards established by the Commissioner of Banking and Insurance