The legislature has enacted into law, effective May 13, amendments to N.J.S.A.17:22A-26 and N.J.S.A.2A:53A-27, sponsored and supported by the Professional Insurance Agents of New Jersey (PIANJ). What is the effect of these amendments, if any, on current New Jersey law of broker liability?

Affidavit of Merit

“Insurance producers” (more commonly called brokers when representing the interests of insureds) is one of 16 categories of licensed persons in the affidavit of merit (AOM) statute, which requires an affidavit of merit stating that in reasonable probability professional performance fell outside acceptable standards. For medical malpractice defendants, the affiant must be medically licensed with particular expertise in the area or specialty involved, and must be board certified or have devoted at least five years in the specialty at issue.