ASSEMBLY FINANCIAL INSTITUTIONS AND INSURANCE COMMITTEE
SENATE, No. 1558
STATE OF NEW JERSEY
DATED: MAY 14, 2021
The Assembly Financial Institutions and Insurance Committee reports favorably Senate Bill No. 1558 (1R).
This bill provides that an insurer who receives certain requests, from attorneys admitted to the practice of law in this State, for disclosure of the policy limits under a private passenger automobile insurance policy issued by the insurer to an insured, shall provide written disclosure of the policy limits to the attorney within 30 days from receipt of the request. The disclosure shall indicate the limits of all private passenger automobile insurance policies and any applicable umbrella or excess liability insurance policies issued by the insurer to the insured.
The bill provides that a request for disclosure of policy limits shall be in writing and shall include:
(1) a statement that the attorney represents an individual who has suffered bodily injury or death alleged to be caused by a motor vehicle accident with an insured under a private passenger automobile insurance policy issued by the insurer;
(2) the name and last known address of the insured;
(3) the date and approximate time of the motor vehicle accident;
(4) a copy of the accident report, if available, relating to the motor vehicle accident; and
(5) a statement from the claimant, or an attorney representing the claimant, providing insurance information, including the claimant’s insurer, policy number, and policyholder name; tort threshold selection; and personal injury protection coverage limit.
the bill, disclosure of policy limits does not constitute an admission that the
alleged injury or damage is subject to the policy, and information concerning
the insurance policy is not admissible as evidence at trial by reason of
disclosure pursuant to the bill. The disclosure is to be confidential and
available only to the individual injured and the attorney representing the
injured person and personnel in the office of the attorney.
The Department of Banking and Insurance is required to publish on its website the email address of each insurer, which shall be supplied by each insurer issuing private passenger automobile policies in this State, for the purpose of receiving requests for policy limit disclosures. This provision takes effect on the 60th day next following enactment of the bill.
As reported, this bill is identical to Assembly Bill No. 3444 as amended and reported by the committee.