This bill mandates that all insurers authorized to provide homeowners, renters, excess liability, or personal liability insurance in New Jersey must offer firearm liability insurance as an optional coverage in their policies. The required coverage must protect against losses resulting from legal liability for bodily injury, death, and property damage caused by the ownership, maintenance, operation, or use of a firearm carried in public. The minimum coverage limits specified in the bill include $100,000 for injury or death of one person, $300,000 for injury or death of multiple persons in a single incident, and $25,000 for property damage in any one incident.

The bill is set to take effect immediately upon enactment, ensuring that these insurance options are available for policies delivered, issued, executed, or renewed after the effective date. This legislation aims to enhance public safety by providing financial protection related to firearm-related incidents.