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On June 7, 2018, the New Jersey Senate has advanced bill S2144, entitled the New Jersey Insurance Fair Conduct Act
Posted on August 8, 2018
The legislation proposes to lower the common law “fairly debatable” standard for determining whether an insurer knew it unreasonably delayed or denied a claim. Under the bill, the claimant would no longer need to demonstrate that the insurer had knowledge of the allegedly unreasonable conduct and would have statutory claims for actual damages, treble damages, prejudgment interest, fees and costs. If passed, the legislation has the potential to create a sea change in coverage litigation throughout the State. Read more at: https://www.law360.com/articles/1057502/nj-bill-may-open-floodgates-for-insurance-bad-faith-claims
