NEW JERSEY REPORTS ON AUTO:

The New Jersey Department of Banking and Insurance released its first Auto Company Performance Report. Banking and Insurance Commissioner Holly C. Bakke said the performance report is the first step in a program that will result in the Auto Insurance Company Consumer Report Card to be issued this summer. In addition, consumers will be receiving a Consumer Bill of Rights and have access to an interactive Web-based guide to understanding coverage options. The most recent report ranks 42 insurers by valid complaint ratios. The Rutgers Group, with a market share of 0.63 percent had the highest complaint ratio, while Tokio Marine and Fire, with a market share of 0.05 percent had the lowest. The state’s largest carrier, New Jersey Manufacturers, ranked near the bottom of the list at 39. Also included is an indicator of company financial strength that shows that 10 companies have been downgraded in the last year, while only two companies have been upgraded.