Kevin Wolff and Julia Talarick Host Webinar on Newly Enacted New Jersey Insurance Fair Conduct Act.

On January 27, 2022, Kevin Wolff and Julia Talarick hosted a webinar discussing the provisions of the New Jersey Insurance Fair Conduct Act (“NJIFCA”). That statute, enacted on January 18, 2022, allows a claimant to sue an insurer if an insured “is unreasonably denied a claim for coverage or payment of benefits, or who experiences an unreasonable delay for coverage or payment of benefits,” under an uninsured/underinsured motorists (“UM/UIM”) policy. The claim can be for “an unreasonable delay or unreasonable denial of a claim” or “any violation” of the Unfair Claims Settlement Practices Act arising from UM/UIM benefits. The new law allows for recovery of actual damages, trial verdicts up to three times the amount of the auto policy’s coverage limits, pre- and post-judgment interest, attorneys’ fees, and reasonable expenses. If you have any questions about the NJIFCA, please contact Kevin Wolff at kevin.wolff@KLRW.law or Julia Talarick at julia.talarick@KLRW.law.