Eliminates New Jersey Automobile Insurance Risk Exchange.

This bill eliminates the New Jersey Automobile Insurance Risk Exchange (AIRE), a state-run mechanism that previously handled risk pooling for auto insurance. It directly affects insurers writing private passenger auto insurance in New Jersey by removing statutory references to "AIRE charges" and "AIRE compensation" from insurance regulations. The key mechanism is deleting specific definitions and reporting requirements related to the AIRE from the law, streamlining the regulatory framework. This change removes an administrative layer for insurers but does not alter core insurance requirements or policyholder coverage.