The $1.88 million jury verdict in a New Jersey underinsured motorist (“UIM”) claim, Kelley v. Massachusetts Bay Insurance Company, No. 19-cv-19037 (D. N.J. May 13, 2022) drew headlines.
New Jersey policyholders finally have a statutory cause of action for bad faith for certain claims against their insurance companies thanks to the enactment of the New Jersey Insurance.
The New Jersey Legislature has joined the majority of jurisdictions countering unfair insurer advantage. The Act is an important step towards holding insurance companies accountable for unreasonable delays and denials in their processing claims involving UM/UIM coverage.
On January 18, 2022, Governor Phil Murphy signed into law the New Jersey Insurance Fair Conduct Act (the "Act"). The Act takes effect immediately and represents a significant change in the law governing the conduct of automobile insurers in New Jersey.
New Jersey Insurance Fair Conduct Act was a huge victory for those injured in car crashes in New Jersey. The law was signed into effect by Governor Murphy on January 18, 2022, over the boisterous objection of the insurance companies and lobbyists here in New Jersey.