Senate Commerce Committee Statement to Assembly, No. 3802 — State of New Jersey (December 12, 2024)
Summary
A Senate Commerce Committee statement to Assembly, No. 3802, State of New Jersey, dated December 12, 2024. The committee reports the bill favorably. The statement says the bill modernizes existing law by differentiating certain legal service plans from traditional insurance products, because such plans do not require the payment of claims, assumption of risk, or reimbursement or indemnification for legal services or expenses.
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“Senate Commerce Committee Statement to Assembly, No. 3802 — State of New Jersey (December 12, 2024).”
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SENATE COMMERCE COMMITTEE STATEMENT TO ASSEMBLY, No. 3802 STATE OF NEW JERSEY DATED: DECEMBER 12, 2024 The Senate Commerce Committee reports favorably Assembly Bill No. 3802. This bill differentiates certain legal service plans from traditional insurance products. Under the bill, existing law is modernized by differentiating certain legal service plans from traditional insurance products. Such legal service plans are not insurance because they do not require the payment of claims; assumption of risk; or reimbursement or indemnification for legal services or expenses.
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