Latest New Jersey Headlines
All the headlines from our New Jersey Topic Page, ordered by recency.
Workers’ Comp Results Deteriorated for Northeastern States Last Year
Oct 20 2011 // Most states in the northeastern region reported deteriorating workers’ compensation underwriting results last year, according to latest data from A.M. Best. Pennsylvania, New Jersey, Delaware, Maine and Rhode Island...
N.J. Insurance Agent Indicted for Allegedly Stealing $176K
Oct 20 2011 // A Camden County, New Jersey, insurance agent was indicted for allegedly stealing more than $172,000 from insurance purchasers and for allegedly failing to remit insurance premiums worth over $3,200. The indictment was...
N.J. Man Indicted for Allegedly Submitting False Claim Worth $24K
Oct 19 2011 // A Monmouth County, New Jersey, resident has been indicted for allegedly submitting a forged receipt in support of an insurance claim in an attempt to collect more than $24,000 to which he was not entitled. The indictment...
New Jersey Looks to Put a Lid On Its Auto Insurance ‘Pot of Gold’
Oct 13 2011 // New Jersey’s auto insurance personal injury protection (PIP) regulations are due for an update. The state’s law requires that the Department of Banking and Insurance (DOBI) revisit the rules every two...
New Jersey Workers’ Comp Insurers Seek 6.9% Rate Hike
Oct 12 2011 // The New Jersey Compensation Rating & Inspection Bureau has filed a request with regulators to increase workers’ compensation rates by 6.9 percent effective 2012. “It will be reviewed by the Department of...
N.J.-based Selective Insurance Reports $70M in Q3 Cat Losses
Oct 11 2011 // Branchville, N.J.-based Selective Insurance Group reported on Tuesday, Oct. 11, pre-tax catastrophe losses for the third quarter of around $70 million, or 20 points on the combined ratio. The loss estimate is net of...
N.J. Insurance Veteran Fernandez Wins PIA Award
Oct 6 2011 // The National Association of Professional Insurance Agents (PIA) has named New Jersey insurance veteran Edward Fernandez as its 2011 Company Representative of the Year. Fernandez is president of the Palisades Companies, an...
Berkshire Hathaway to Buy N.J.-based Princeton Insurance
Sep 30 2011 // Berkshire Hathaway’s medical professional liability insurance unit, Medical Protective Co., is purchasing New Jersey-based Princeton Insurance Co., a professional liability insurer for healthcare providers. Princeton...
New Jersey Flood Victims Have Received $116M in Federal Aid
Sep 30 2011 // Dina Zampelle expects that by December, her credit score will be as muddied as her central New Jersey home. That’s because unless the government jumps in to help, she expects the bank to foreclose. “I owe...
Port Authority Cleared of Negligence Claims in ’93 WTC Bombing
Sep 28 2011 // Last week, New York State’s high court cleared Port Authority of New York and New Jersey of negligence claims in the 1993 World Trade Center parking garage bombing. The Sept. 22 ruling reverses lower courts’...
Irene Raises Hurricane Deductible Questions in Northeast States
Sep 19 2011 // New York and New Jersey regulators said recently that hurricane deductibles should not apply on homeowners’ insurance policies for Irene damages in their states. That’s because Irene was downgraded and...
Business Moves
Sep 19 2011 // OneBeacon, Interboro OneBeacon Insurance Group said it is selling its high risk personal auto insurance business, AutoOne, to Interboro Holdings Inc. of New York. AutoOne, formed in 2001, serves the automobile assigned...
Business Moves
Sep 19 2011 // OneBeacon, Interboro OneBeacon Insurance Group said it is selling its high risk personal auto insurance business, AutoOne, to Interboro Holdings Inc. of New York. AutoOne, formed in 2001, serves the automobile assigned...
Wells Fargo Insurance Acquires New Jersey-Based Procomp
Sep 16 2011 // Wells Fargo Insurance Services has acquired Procomp Benefit Resources Inc., an employee benefits brokerage and consulting firm based in Hazlet, N.J. Terms of the transaction were not disclosed. The acquisition will allow...
Irene Raises Hurricane Deductible Questions in Hard-Hit Northeast States
Sep 7 2011 // New York and New Jersey regulators said recently that hurricane deductibles should not apply on homeowners’ insurance policies for Irene damages in their states. That’s because Irene was downgraded and...
FEMA Aid Approved for All New Jersey Counties
Sep 7 2011 // All 21 counties in New Jersey have been declared major disaster areas following Hurricane Irene. The designation allows those not eligible for insurance coverage to receive federal funding for repairs and temporary...
People
Sep 5 2011 // David J. Bresnahan has been named president of Lexington Insurance Co., the surplus lines unit of Chartis Insurance. He is succeeding Peter Eastwood, who is moving into his new role as president and chief executive officer...
Vermont, New Jersey, Upstate New York Still Underwater from Irene
Sep 1 2011 // Floodwaters finally started to recede from areas of the U.S. northeast devastated by Hurricane Irene but many communities were still under water Wednesday as relief workers battled cut-off roads and raging rivers to...
FEMA: Almost 230,000 in New Jersey Have Flood Insurance
Sep 1 2011 // As flooding from Hurricane Irene caused heavy damage in New Jersey, federal officials report almost 230,000 property owners in the state have flood insurance. Flooding is not covered by homeowners insurance but by special...
Can Federal Flood Insurance Handle Irene Losses?
Aug 31 2011 // The only thing worse than getting flooded out of your home once is getting flooded out of it twice. Or, for that matter, over and over again. Margaret Wert bought her Wayne, New Jersey house in 1999, relying on assurances...
