Bill Text: NJ A902 | 2012-2013 | Regular Session | Introduced
Bill Title: Raises monetary threshold for at-fault automobile accidents to $1,000.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2012-01-10 - Introduced, Referred to Assembly Financial Institutions and Insurance Committee [A902 Detail]
Download: New_Jersey-2012-A902-Introduced.html
STATE OF NEW JERSEY
215th LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2012 SESSION
Sponsored by:
Assemblywoman HOLLY SCHEPISI
District 39 (Bergen and Passaic)
SYNOPSIS
Raises monetary threshold for at-fault automobile accidents to $1,000.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel
An Act concerning at-fault accident surcharges and amending P.L.1990, c.8.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Section 26 of P.L.1990, c.8 (C.17:33B-14) is amended to read as follows:
26. The commissioner shall, within 90 days of the effective date of this act, promulgate a schedule of automobile insurance eligibility points by rule or regulation adopted pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.). The schedule shall assess a point valuation to driving experience related violations and shall include assessments for violations of lawful speed limits within such increments as determined by the commissioner, other moving violations, and at-fault accidents. For the purposes of this section, an "at-fault accident" means an at-fault accident which results in payment by the insurer of at least a [$500] $1,000 claim, which amount shall be adjusted by order of the commissioner on July 1 every three years following the effective date of this 2002 amendatory act to reflect the cumulative increases or decreases in the components of the national Consumer Price Index, U.S.City Average, deemed appropriate by the commissioner, and the adjusted amount shall apply to automobile accidents occurring on or after the adjustment date; except that an at-fault accident shall not mean an accident occurring as a result of operation of any motor vehicle in response to a medical emergency if the operator at the time of the accident was a physician responding to the medical emergency.
(cf: P.L.1997, c.381, s.1)
2. This act shall take effect on the 90th day following enactment and apply to private passenger automobile insurance policies issued or renewed in this State on or after the effective date.
STATEMENT
This bill amends the
definition of "at-fault accident" in the section of law providing for
the schedule of automobile insurance eligibility points used to determine
whether a driver may be written in the residual automobile insurance market or
whether he is required to be written by insurers in the voluntary market
because he has less than nine automobile insurance eligibility points. The
bill provides that an "at-fault accident" means an accident which
results in payment by the insurer of at least a $1,000 claim, which amount
shall be adjusted by order of the Commissioner of Banking and Insurance on July
1 every three years to reflect the cumulative increases or decreases in
components of the national Consumer Price Index, U.S. City Average, deemed
appropriate by the commissioner.
