Employees driving company vehicles in New Jersey are eligible for their employers' uninsured/underinsured motorist coverage, thanks to a new law signed this week by Gov. Jon Corzine. The law prohibits insurers' use of "step-down" clauses, which bind employees -- unless named as insureds on their employers' policies -- to their personal automobile policies' UM/UIM limits, which are usually lower. The law was intended to counter a state Supreme Court ruling that held step-down clauses enforceable.
September 14, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Employees driving company vehicles in New Jersey are eligible for their employers’ uninsured/underinsured motorist coverage, thanks to a new law signed Monday by Gov. Jon Corzine.
The law prohibits insurers’ use of “step-down” clauses, which bind employees — unless named as insureds on their employers’ policies — to their personal automobile policies’ UM/UIM limits, which are usually lower.
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