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

Summary

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

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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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