S 3133
Eliminates New Jersey Automobile Insurance Risk Exchange.
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- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Bill overview
This bill proposes to eliminate the New Jersey Automobile Insurance Risk Exchange (AIRE). The AIRE was a system that required automobile insurance companies operating in New Jersey to contribute to a fund to cover certain types of claims. The bill also revises related statutory law. Any savings realized by insurers due to the elimination of AIRE will be deposited into a fund dedicated to pedestrian safety enforcement and education.
Sponsors
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Primary sponsor
Nicholas Scutari
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