Requires insurers that sell flood insurance to provide certain policyholders with certain information.
Impact
The bill aims to bolster consumer protections for flood insurance policyholders in New Jersey by ensuring they receive thorough information about their claims. By requiring insurers to provide all relevant documentation, it seeks to minimize disputes and improve communication between policyholders and insurers. This could benefit many individuals and families who experienced property damage during Superstorm Sandy by enabling them to better understand their claims process and the evidence supporting their claims.
Summary
Bill A789 is a legislative proposal in New Jersey that mandates insurers selling flood insurance to provide specific information to certain policyholders who are claimants for property damage. This bill is particularly significant due to its reference to policyholders who held insurance on October 28, 2012, the date when Superstorm Sandy caused substantial damage in the region. The intention behind this bill is to ensure that affected policyholders have transparency regarding the documents and reports related to their claims, which might include engineers' evaluations and other related communications.
Contention
One notable aspect of the bill could potentially arise from the penalties that might be imposed on insurers for non-compliance. The stipulation that civil penalties can range up to $2,500 for the first violation and $5,000 for subsequent violations suggests an effort to enforce strict compliance. This could lead to debate among insurers regarding the feasibility and fairness of such penalties, especially if they perceive the documentation requirements as burdensome or if they question the intent behind the specific date referenced in the bill.
"The Reliability, Preparedness, and Storm Response Act of 2020"; requires public utilities to file certain information concerning emergency preparedness with BPU and increases certain penalties.
Directs MVC to establish public information campaign concerning certain motorized vehicles; establishes 15-mile-per-hour speed limit for certain motorized vehicles.
Requires DEP to publish certain information regarding natural resources damages when entering into certain settlements under "Spill Compensation and Control Act."