Legislation that would prohibit the use of step-down provisions in personal auto policies was introduced in the state Senate last week. Generally, step-down provisions are found in some personal auto policies. They act to reduce the amount of coverage to which an...
Independent agents have relationships with various insurance carriers. Each carrier has its own set of tools and resources to help agents educate their clients about what will happen when they file a claim—before, during and after. By working together, agents and...
Two bills passed the New Jersey state Legislature last week, which would impact the personal auto and commercial insurance marketplace, respectively. The auto limits bill was amended in the state Senate. Increase in auto limits S-481, sponsored by Sen. Nicholas...
Senate Six months into the job as state Senate President, Sen. Nicholas Scurtari, D-22, is looking to put his stamp on New Jersey’s automobile insurance marketplace. Last week a series of bills—sponsored by Scurtari—passed the Senate Commerce Committee. If signed into...
Recently, the Superior Court of New Jersey, Appellate Division held in the case of Vera v. State Farm Indem. Co. that New Jersey’s no-fault law does not bar policyholders from pursuing a claim of bad faith against their insurer. How did we get here? The plaintiff and...
The short answer: Bigger profits! (For the long answer, keep reading below.) It’s no surprise that many homeowners start as renters first. There’s a logical progression to it. Well, according to recent research,[1] renters who move on to home ownership don’t move on...
The New York state Senate just passed S.6028, 56-7, sponsored by Sen. Neil D. Breslin, D-44. This bill would make photo inspections of private passenger automobiles optional. Currently, many consumers are required to get a photo inspection of their vehicle within 14...
The 2021-22 legislative session is wrapping up this week with the House and Senate set to complete all their work by May 26, 2022. The Legislature just completed the committee of conference phase, which is when committees made up of four House members and three...
The New York state Senate passed A.9284-A on May 10, 2022, with a 49-13 vote. This bill—sponsored by Assemblymember Deborah J. Glick, D-66—would be a chapter amendment to the 2021 dog breed law. It would close a loophole in the current law by...
On May 9, the New York state Assembly passed S.8127, which would simplify the excess-line insurance placement affidavit requirements brokers must complete before placing insurance in the excess marketplace. The bill passed the state Senate on March 23, so the final...