Instant Insights / Commercial insurance market insights

Review how a range of commercial insurance lines are performing as well as the challenges and opportunities being presented by businesses seeking coverages ranging from commercial general liability to specialty coverage designed for niche industries.


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home improvement Credit: amnaj/Adobe Stock

Senate Bill S1890 and Assembly Bill A2138 have passed both houses of the New Jersey Legislature and been signed by the governor. For the first time, the measure creates a license for home improvement contractors. The legislation is intended to protect New Jersey consumers from businesses that fail to complete their work or do a shoddy job. The stories of “ripped off” consumers are legion.

Current law only requires a contractor to have a liability insurance policy and register for $110 as a home improvement contractor. No proof of training, skill or experience is currently required to work on a New Jersey resident’s home nor provide adequate monetary resources to compensate consumers in the event of defective construction.

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