Prohibits discrimination with respect to charging of rates of premiums for disability and accident insurance.
Impact
The introduction of A1235 has the potential to substantially impact state laws concerning insurance practices. By prohibiting discriminatory practices in the issuance, renewal, and terms of disability and accident insurance, the bill aligns New Jersey's legal framework with contemporary equity standards. It aims to eliminate disparities that historically have affected minority groups, potentially leading to more fair insurance premiums across different demographics.
Summary
Assembly Bill A1235 seeks to prohibit discrimination against individuals based on various personal characteristics, specifically in the context of disability and accident insurance. The bill amends Title 17B of the New Jersey Statutes, ensuring that rates and terms for insurance coverage cannot be unfairly set based on race, creed, color, national origin, ancestry, or sex. This is a significant step towards ensuring equitable access to insurance policies for all individuals regardless of their background, contributing to a more inclusive insurance market in New Jersey.
Contention
Notably, the bill was inspired by similar legislation enacted in Massachusetts, which has set a precedent for equitable insurance practices. However, there may be concerns regarding the implementation of these non-discrimination measures, particularly how insurers will adjust their existing rating methodologies to comply with the new standards. The industry may voice apprehensions over the financial implications and operational challenges of conforming to these regulations, possibly leading to debates during legislative discussions.
An Act Prohibiting Certain Insurance Discrimination And Establishing A Task Force To Study Insurance Costs Borne By Businesses Located In Distressed Municipalities.
Expands "Law Against Discrimination" to apply to health programs and activities and to prohibit discrimination based on association with individuals in protected classes.
"Freedom to Read Act"; establishes requirements for library material in public school libraries and public libraries; protects school library staff members and librarians.
"Freedom to Read Act"; establishes requirements for library material in public school libraries and public libraries; protects school library staff members and librarians.