New Jersey Developments

Subscribe to New Jersey Developments via RSS
The New Jersey Department of Banking and Insurance recently issued Bulletin 09-21, which advises that amendments to N.J.S.A. § 17:22-6.59 and 17:22-6.64 were enacted on June 29, 2009.  The amendments change the surplus lines premium tax rate from three percent to five percent. 

…
Read More New Jersey Increases Surplus Lines Premium Tax Rates

Late last month, the New Jersey legislature passed A2238/S1651 (the “NJ Act”), which requires group health insurers to provide coverage for the diagnosis and treatment of autism spectrum disorders.  Specifically, policies must provide coverage for treatments that are deemed medically necessary by the autistic person’s physician including behavioral therapy, physical therapy, speech therapy, and occupational therapy. 

…
Read More New Jersey Passes Autism Coverage Legislation; Massachusetts Considering Same

On May 4, 2009, New Jersey State Senator Nia H. Gill introduced Senate Bill 2766 into the New Jersey State Senate to temporarily prohibit the use of credit-based insurance scoring by property-casualty insurers in rate-making for personal lines insurance coverage.  The bill, as currently drafted, would suspend such use of credit-based insurance scoring until June 30, 2011. …
Read More New Jersey Senate Considering Ban on Credit-Based Insurance Scoring

Last week, the New Jersey Senate Commerce Committee began its review of the New Jersey Consumer Catastrophe Preparedness and Protection Act, S. 2089 (the “Bill”), by hearing testimony from representatives of the insurance industry and first responders.  We previously reported about a version of the Bill that was introduced last year, but was never enacted. …
Read More New Jersey Senate Committee Begins Review of Catastrophe Fund Bill

Legislation is under consideration in Connecticut and New Jersey that may significantly expand a claimant’s ability to directly sue an insurer over unfair claims settlement practices. 

…
Read More Legislation Proposed in Connecticut and New Jersey Allows for Direct Action by Claimants for Unfair Claims Settlement Practices

In September 2008, the New Jersey Legislature enacted Senate Bill 1165 (the “Act”) setting forth standards and procedures with respect to the direct solicitation of consumers regarding annuity products.  The Act is designed to prevent the fraudulent and misleading marketing of annuity products by insurers, brokers and agents, and to provide standards for the disclosure of information about such products to consumers. 

…
Read More New Jersey Issues Bulletin Regarding Annuity Form Filing and Suitability Requirements

The federal district court for the district of New Jersey recently denied an insured’s motion for reconsideration of its prior award of summary judgment in favor of its insurer.  Pine Belt Automotive, Inc. v. Royal Indemnity Co., et al., Civil Action. No. 06-5995 (D.N.J. Feb. 19, 2009). 

…
Read More District Court Affirms Summary Judgment for Insurer in Employee Theft Case

A federal district court in New Jersey has granted final approval of a $69 million settlement by Marsh & McLennan Cos. Inc. and other Marsh defendants in In re Insurance Brokerage Antitrust Litigation, 2:04-cv-5184 (D.N.J.), and In re Employee Benefit Insurance Brokerage Antitrust Litigation, 2:04-cv-1079 (D.N.J.). 

…
Read More Court Approves Marsh’s $69 Million Settlement in Insurance Brokerage Antitrust Class Actions