This bill amends existing automobile insurance laws in New Jersey to prohibit insurers from raising insurance rates for individuals involved in motor vehicle accidents where they are deemed not at fault. Specifically, it introduces new legal language stating that no underwriting rule shall assign a risk to a rating plan based on a named insured's involvement in such accidents. This change aims to protect insured individuals from financial penalties related to accidents for which they are not responsible.

Additionally, the bill mandates that insurers must adhere to their established underwriting rules uniformly across the state and file these rules with the commissioner for approval. Insurers that fail to comply with these rules may face fines of at least $1,000 for each violation. The act will take effect 90 days after its enactment and will apply to automobile insurance policies that are initiated or renewed after that date.

Statutes affected:
Introduced: 17:29A-46.2