This bill amends the "New Jersey Insurance Fraud Prevention Act" to include self-insured entities and plans within its provisions. It defines a "self-insured entity" as a public or private entity that assumes the risk and responsibility for paying losses from contingent events for beneficiaries of its self-insured plan. A "self-insured plan" is described as any benefits plan for losses incurred from contingent events, which may encompass various types of coverage such as health, bodily injury, property damage, and more. The bill specifies that violations of the act occur if individuals present false or misleading statements related to claims for payment or benefits under a self-insured plan, or if they fail to disclose relevant information affecting entitlement to such benefits.

Additionally, the bill allows self-insured entities that suffer damages due to violations of the act to sue for compensatory damages in a court of competent jurisdiction. It also grants the Commissioner of Banking and Insurance the authority to share relevant documents and evidence with self-insured entities that have been harmed by violations of the act, ensuring that such disclosures align with the act's objectives. The bill aims to enhance the enforcement of insurance fraud regulations by extending protections and remedies to self-insured entities, thereby promoting accountability and integrity within the insurance system.

Statutes affected:
Introduced: 17:33A-3, 17:33A-4, 17:33A-7, 17:33A-11