Senate Commerce Committee Statement - Senate Bill No. 775 (State of New Jersey, February 13, 2020)

Summary

A Senate Commerce Committee statement of the State of New Jersey, dated February 13, 2020, reporting Senate Bill No. 775 favorably. The bill requires the owner of a business or of a rental unit or units to maintain a liability insurance policy, such as commercial general liability, personal liability or an umbrella policy, for negligent acts in an amount of no less than $500,000 for combined property damage and bodily injury or death of one or more persons in any one accident or occurrence; the statement adds that the bill was pre-filed for the 2020-2021 session and, as reported, includes the changes required by technical review.

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     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.


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