Senate Commerce Committee Statement to Senate, No. 1368 — State of New Jersey (March 14, 2022)

Summary

In a statement dated March 14, 2022, the New Jersey Senate Commerce Committee reports favorably Senate Bill No. 1368, which requires owners of a business or of rental units to carry liability insurance for negligent acts, such as a commercial general, personal or umbrella policy. The required coverage is 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.

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SENATE COMMERCE COMMITTEE

STATEMENT TO

SENATE, No.
1368

STATE
OF NEW JERSEY

DATED: MARCH
14, 2022

The
Senate Commerce Committee reports favorably Senate Bill No. 1368.

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.

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