Latest New Jersey Headlines
All the headlines from our New Jersey Topic Page, ordered by recency.
Insurers, Brokers Settle Spitzer-Era Bid-Rigging Case for $37 Million
Mar 23 2011 // Lawyers for a majority of the 15 insurance company and broker defendants in a long-running suit accusing them of bid-rigging are scheduled to be in court today outlining a proposed settlement that will cost them about...
New Jersey Captive Group Appoints Board
Mar 21 2011 // The New Jersey Captive Insurance Association (NJCIA) has appointed a seven-member advisory board, which will assist the group in guiding the state’s new captive insurance industry. The board members are Andrew...
Core Programs Established in New Jersey
Mar 15 2011 // A new program administrator, Core Programs, has launched in New Jersey. The Totowa-based firm, managed by 23-year industry veteran Richard Trezza, will focus on commercial P&C lines. With an operating platform...
Ratings Recap: First Hawaii, Cumberland, Seven Seas, Main Street
Mar 3 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of First of Hawaii Group and its members. The outlook for all of the ratings...
California Proposes to Disable Itself From Taxing 100% of Surplus Lines Premium
Mar 1 2011 // A California legislator has proposed a surplus lines bill — one effect of which will reduce California’s surplus lines premium tax revenues. On Feb. 9, 2011, California Assembly Member Solario introduced Assembly...
New Jersey Seeks Premium Refunds for Scrapped Tunnel Project
Mar 1 2011 // New Jersey is negotiating to reclaim part of nearly $162 million paid to insure the Hudson River rail tunnel project that Gov. Chris Christie scrapped four months ago. An official says locking in insurance coverage saved...
New Jersey Added 27 Insurers in 2010
Feb 22 2011 // New Jersey saw an increase in the number of new insurance companies doing business in the state, and in carriers writing new lines, in 2010, according to state officials. The state insurance department said that last year...
New Jersey Man Pleads Guilty in Car-Fire Fraud
Feb 17 2011 // A New Jersey man has pleaded guilty to torching is aunt’s car so she could collect insurance money — and pay him out of the proceeds for his role in the scheme, prosecutors said. Kristopher Wynder, of Vineland,...
New Jersey Senate Panel OKs Lower Vehicle Fines
Feb 9 2011 // A bill advanced by the Senate Transportation Committee on this week gives some New Jersey drivers a break. The bill reduces the maximum fine for driving without a license, registration or insurance card if the driver can...
Business Moves
Feb 7 2011 // Breckenridge, REcentis New York-based wholesaler Breckenridge IS has acquired a majority interest in REcentis Intermediaries, a specialty reinsurance broker with offices in California and Australia. Terms of the deal were...
Insurers Laud New Jersey Fraud-Fighting Legislation
Feb 3 2011 // The Property Casualty Insurers Association of America (PCI) says it wants New Jersey lawmakers to adopt legislations that would enhance fraud-fighting efforts. The insurers’ trade group, which testified today in...
Bollinger Acquires Charles G. Treloar Agency
Jan 27 2011 // New Jersey-based broker Bollinger has acquired Charles G. Treloar Agency Inc. of Kenvil, New Jersey. Terms of the deal were not disclosed. The agency’s employees will be relocated to Bollinger’s corporate...
New Jersey Man Gets 4 Years for $20M Insurance Scam
Jan 26 2011 // A former partner in a New Jersey-based insurance firm is going to prison for four years for his role in a $20 million loan scheme. Gavin Gatta’s company, Smith Gatta Gelok, assisted businesses in buying commercial...
Ratings Recap: Berkley National, Allstate (NJ), Preferred Physicians
Jan 24 2011 // A.M. Best Co. has commented that the financial strength rating of ‘A+’ (Superior) and issuer credit rating of “aa-” of Iowa-based Berkley National Insurance Company are unchanged following internal...
Alleged ‘Harassment’ Not Compensable for New Jersey Security Guard
Jan 24 2011 // A New Jersey woman who claimed the stress of her work as a hospital security guard left her with a psychiatric disability cannot collect workers’ compensation benefits, a state judge has ruled. The case centered on...
Captivated By Potential
Jan 24 2011 // Northeast State Have Uneven Success Attracting Captives States across the Northeast continue to look at captive insurance companies as a potential source of new business — and tax revenue — but the continued growth of...
Alleged ‘Harassment’ Not Compensable for New Jersey Security Guard
Jan 12 2011 // A New Jersey woman who claimed the stress of her work as a hospital security guard left her with a psychiatric disability cannot collect workers’ compensation benefits, a state judge has ruled. The case centered on...
New Jersey Court: Mauled Dog’s Owner Can’t Get Damages
Jan 10 2011 // Pet owners who witness their animals being killed by another creature cannot seek damages for emotional distress, a New Jersey appellate court has ruled. The decision, issued last month, came in the case of a woman whose...
New Jersey Passes Captive Insurance Legislation
Jan 10 2011 // New Jersey will soon allow captive insurers under a bill passed by the state’s legislature and expected to be signed by the state’s governor in the coming weeks. The legislation makes the Garden State a captive...
New Jersey Wants Seat Belt Safety to Click with Teens
Dec 29 2010 // New Jersey will begin a new effort next year to try to improve on a grim reality: Motor vehicle accidents remain the leading cause of death for teenagers and young adults, the age group least likely to wear seat belts. The...
