Business Insurance Registry

As of August 5, 2022, new State law S-1368 requires all business owners and owners of multifamily rental units to maintain certain levels of liability insurance. In addition, the new law requires that all business owners and owners of multifamily rental units annually register a certificate of insurance with the municipality where the business or rental unit is located. 

The owner of a business or the owner of a rental unit or units shall maintain liability insurance for negligent acts and omissions in an amount of no less than $500,000 for combined property damage and bodily injury to or death of one or more persons in any one accident or occurrence. The owner of a multifamily home, which is four or fewer units, one of which is owner-occupied, shall maintain liability insurance for negligent acts and omissions in an amount of no less than $300,000 for combined property damage and bodily injury to or death of one or more persons in any one accident or occurrence. The Insurance Registry is only valid for a term of one (1) calendar year, and expires on December 31 of the year that the registration was submitted.  There is no fee required.