PIANJ Praises NJ DOBI Consumer Materials Initiative

The Professional Insurance Agents of New Jersey Inc., in a letter to Assistant Commissioner Douglas A. Wheeler, praised the state’s Department of Banking and Insurance for taking the initiative to develop and improve consumer materials providing information to the state’s insurance-buying public, citing the department’s proposed Bill of Rights and standardized Consumer’s Guide to Auto Insurance.

“PIANJ applauds the department for helping consumers understand their rights and obligations,” stated John D’Agostino Jr., CIC, PIANJ president. “We appreciate the opportunity to provide comments on these proposed amendments.”

Some of the suggestions PIANJ made were the removal of a requirement that agents must provide quotes for each company they represent, as it ignores the ability of an independent agent to properly counsel his or her client and may cause unnecessary confusion to the consumer. PIANJ also suggested that consumers should be made aware that companies who have met certain growth standards may be exempt from providing insurance to eligible drivers.

The association also offered suggestions to the current coverage selection forms. “Coverage selection forms vary from company to company. Often these are very confusing,” D’Agostino indicated. “PIANJ believes if the department seeks to educate consumers on how to make the best choices, it should move toward a standardized coverage selection form as well.”

Topics New Jersey