This bill mandates that no insurer may issue a motor vehicle liability insurance policy to an individual without prior consultation with a licensed insurance producer, as outlined in the "New Jersey Insurance Producer Licensing Act of 2001." However, it allows insurers to sell policies online without such consultation if they provide a cost benefit analysis to the individual before the sale. The Department of Banking and Insurance is tasked with establishing rules to define what constitutes a consultation and a cost benefit analysis to ensure compliance with the new regulations.

The bill aims to enhance consumer protection by ensuring that individuals receive professional guidance when purchasing automobile insurance, while also accommodating modern purchasing methods through online sales. The provisions are designed to balance the need for informed decision-making with the convenience of digital transactions, thereby promoting transparency and understanding of insurance options available to consumers.