New Jersey S221 mandates an investigation into auto insurance premium increases for drivers with license suspensions.
New Jersey S221 requires the Department of Banking and Insurance to investigate auto insurance practices, focusing on premium increases for drivers with license suspensions, whether related to driving or not. The investigation will also examine the use of credit ratings and addresses in setting premiums. The commissioner must determine if these factors justify premium increases. The findings will be reported to the Governor and the Legislature within two years. This bill responds to a recommendation from the Motor Vehicles Affordability and Fairness Task Force.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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