The Professional Insurance Agents of New Jersey, Inc. has vigorously defended the position of the R.J. Gaydos Insurance Agency, which has sued the National Consumer Insurance Co. for wrongfully terminating its agency agreement in 1997.
A recent decision of the New Jersey Supreme Court sent the case back to the Department of Banking and Insurance with instructions to make a finding of fact on whether NCIC violated New Jersey’s Fair Automobile Insurance Reform Act (FAIRA) when it terminated Gaydos contract because the agency wrote a high volume of unprofitable automobile insurance. (See previous article, July 2).
Topics Agencies New Jersey
Was this article valuable?
Here are more articles you may enjoy.
Old Republic to Acquire Small Farmowner Insurer Everett Cash Mutual 
Rotting Apple: Berkley Explains Property Market, Company Appetite 
Rivian Agrees to Pay $250 Million to Settle IPO Fraud Lawsuit 
Florida Jury Awards Jack Nicklaus $50M in Defamation Suit vs. His Former Company 
