New Jersey Insurance Fair Conduct Act
New Jersey has introduced a new bill named “The New Jersey Insurance Fair Conduct Act”, (https://legiscan.com/NJ/text/S2144/id/1751930) has passed the State Senate 21-14 and should have all insurance carriers concerned, especially within workers’ compensation arena. Shortly, this bill will be voted on in the State Assembly and seems to have a great chance of being signed into law by Governor Murphy shall it pass.
To my belief, insurance carriers for several decades within the workers’ compensation system have had it way to good utilizing a system when dealing in bad faith at times against claimants. A new day is quickly approaching in New Jersey.
Upon the passing of this new “bad faith bill”, the tables are about to be turned on the carriers when non-compliant or defiant themselves, trying to take advantage of a consumer in the state of New Jersey. Over the years, this seems to happen every day within the workers’ compensation system across the country. A number of New Jersey lawmakers are standing up and seem to be saying, enough is enough.
As discussed in my prior articles, the shift transpiring within the industry for a new less adversarial process now stands out at the forefront of the entire system.
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Founder and CEO
PG Resolutions Group