This bill mandates the Commissioner of Banking and Insurance to investigate the practices of the automobile insurance industry in New Jersey, specifically focusing on the increases in premiums for drivers who have had their motor vehicle licenses suspended. The investigation will compare premium increases for drivers with suspensions related to driving offenses versus those with non-driving related suspensions. Additionally, the commissioner will evaluate the impact of credit ratings and addresses on determining these premiums. A report detailing the findings of this investigation is required to be submitted to the Governor and the Legislature within two years of the investigation's commencement.

The act is set to take effect six months after its enactment and will expire 90 days following the submission of the required report. This initiative stems from a recommendation made by the Motor Vehicles Affordability and Fairness Task Force, aiming to ensure fairness in how automobile insurance premiums are assessed in relation to various types of license suspensions and credit factors.