New Jersey Governor Phil Murphy has enacted an insurance bad faith statute for auto insurers. The bill, titled “New Jersey Insurance Fair Conduct Act,” establishes a private cause of action for first-party claimants regarding certain unfair, discriminatory or unreasonable practices by their insurer. It was signed Jan. 18.
The original version of the bill applied to all lines of insurance, but it has since been pared down and currently only applies to underinsured and uninsured motorists (UM/UIM) claims.
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