Senate Commerce Committee Statement to Senate, No. 2841 — State of New Jersey (June 20, 2022)

Summary

In a statement dated June 20, 2022, the New Jersey Senate Commerce Committee reports favorably Senate Bill No. 2841, which raises the minimum liability coverage for a commercial motor vehicle to $1.5 million. An owner or registered owner would have to carry at least $1.5 million of motor vehicle liability insurance against loss from legal liability for bodily injury, death and property damage.

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SENATE COMMERCE COMMITTEE

STATEMENT TO

SENATE, No.
2841

STATE
OF NEW JERSEY

DATED: JUNE
20, 2022

The
Senate Commerce Committee reports favorably Senate Bill No. 2841.

This
bill raises the minimum amount of liability coverage for a commercial motor
vehicle to $1.5 million.

Under
the bill, an owner or a registered owner of a commercial motor vehicle will be
required to maintain motor vehicle liability insurance coverage of at least
$1.5 million to insure against loss resulting from liability imposed by law for
bodily injury, death, and property damage.

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