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Saturday, June 15, 2024

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Avalon Sets Up Liability Insurance System

AVALON LOGO SHUTTERSTOCK

By Vince Conti

AVALON – Avalon Assistant Business Administrator James Waldron explained to the borough council the administration’s proposal for dealing with new state legislation regarding compulsory liability insurance.
New state legislation requires that all businesses and residential rental units must carry liability insurance at a minimum level set by statute. These entities must also annually file proof of their insurance coverage with the municipality in which the business or rental unit is located. The requirement to have municipalities track and enforce the insurance requirement was a late addition to the legislation, leaving many towns scrambling to meet the requirement.
In Avalon, the strategy as outlined by Waldron will be to have all businesses register with the borough at no cost. Rental units are already required to be registered. The registrations will then be used to ensure that all of the certificates of insurance have been appropriately filed with the municipality. Waldron said the borough hoped to have all businesses registered by the spring. 

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