A rule proposed by the New Jersey Department of Labor and Workforce Development (DOLWD) threatens the independent contractor status of many insurance agents and brokers and would improperly classify them as "employees" under state labor laws. Unfortunately, this would also impact consumers in the state, as the independence of licensed insurance and financial professionals allows them to effectively serve their clients by offering products and services from multiple insurance companies and financial institutions.
1 min read
NAIFA-NJ Is Working to Protect the Independent Contractor Status of Financial Professionals
Topics: New Jersey Insurance & Financial Advisor Regulation
2 min read
NAIFA-NJ Celebrates Legislative Victories
NAIFA's New Jersey chapter (NAIFA-NJ) has been hard at work on the advocacy front and has recent wins to show for its efforts.
Topics: State Advocacy Standard of Care & Consumer Protection New Jersey Grassroots Insurance & Financial Advisor Regulation Fiduciary
1 min read
NJ Bill on Insurance Lawsuits Includes NAIFA-Supported Amendment Excluding Producers
The New Jersey state Senate has passed the New Jersey Insurance Fair Conduct Act, which would permit a consumer to bring a private cause of action lawsuit against an insurer accused of an unreasonable claim denial or delay in payment of benefits.
Topics: Property & Casualty Insurance State Advocacy New Jersey
1 min read
NAIFA-NJ Pushes Back on Senate Bad Faith Bill
NAIFA-NJ recently put out a call to action to its members, asking them to contact their state senators to vote "No" on S-1559. The bill, the New Jersey Insurance Fair Conduct Act, would establish a private cause of action for first-party claimants against an auto insurer for an unreasonable delay or denial of a claim or for violating statutes prohibiting unfair or deceptive acts or practices.
