New Jersey Requires Auto Insurers to Designate Email Address for Policy Limit Disclosure Requests

New Jersey Requires Auto Insurers to Designate Email Address for Policy Limit Disclosure Requests

On September 20, 2022, the New Jersey Department of Banking and Insurance (DOBI) issued Order No. A22-06 establishing certain requirements for auto insurers to comply with Senate Bill 2843, which was enacted on August 5, 2022. 

Pursuant to the Order, by September 27, 2022, all insurers issuing automobile insurance policies within the state of New Jersey are to provide DOBI with: (1) an email address where they will receive requests for policy limit disclosures; and (2) a list of individual companies to which the email address applies. This information must be sent via email to reports@dobi.nj.gov.

Insurers that only write private passenger automobile policies, and that previously submitted an email address to the Department in compliance with Order No. A21-11, issued on September 15, 2021, are not required to re-submit any information.

Importantly, if the email address provided by an insurer pursuant to Order No. A22-06 or Order No. A21- 11 changes, the insurer must inform DOBI within three (3) business days.

 

Link to Order No. A22-06

Link to NJ SB 2843