Lowers minimum amount of motor vehicle liability coverage for autocabs.

This bill reduces the minimum liability insurance requirement for autocabs in New Jersey from $1.5 million to $200,000 per accident. It directly affects autocab owners and operators, who must now carry this lower coverage amount to legally operate on public streets. The key provision amends Section 1(6) of the existing law and updates Section 48:16-3 to reflect the new $200,000 limit for bodily injury/death and property damage claims. This change applies to all autocab insurance policies issued or renewed on or after the effective date. The bill does not alter other coverage requirements for standard vehicles or commercial motor vehicles.