SENATE COMMERCE COMMITTEE

STATEMENT TO

SENATE, No. 775

STATE OF NEW JERSEY

DATED:  FEBRUARY 13, 2020

     The Senate Commerce Committee reports favorably Senate Bill No. 775.

     This bill requires the owner of a business or the owner of a rental unit or units to maintain a liability insurance policy, including, but not limited to, commercial general liability insurance, personal liability, or an umbrella insurance policy for negligent acts in an amount of no less than $500,000 for combined property damage and bodily injury to or death of one or more persons in any one accident or occurrence.

      This bill was pre-filed for introduction in the 2020-2021 session pending technical review.  As reported, the bill includes the changes required by technical review, which has been performed.