SENATE SUBSTITUTE FOR
SENATE COMMITTEE SUBSTITUTE FOR
SENATE, No. 557
STATE OF NEW JERSEY
ADOPTED NOVEMBER 25, 1996
Sponsored by Senator MATHEUSSEN
An Act concerning the renewal of automobile insurance policies and repealing section 26 of P.L.1988, c.119 (C.17:29C-7.1).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Section 26 of P.L.1988, c.119 (C.17:29C-7.1) is repealed.
2. This act shall take effect immediately.
STATEMENT
This substitute repeals section 26 of P.L.1988, c.119 (C.17:29C-7.1), which currently allows automobile insurers to nonrenew every year two percent of those drivers whom they insure and, in addition, to nonrenew one policy of automobile insurance for every two newly insured automobiles written by the insurer in a rating territory.
Repeals “2 for 1” and “2%” rules for nonrenewal of automobile insurance policies.