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.
Eli Lilly Wins Court Order in Fraud Allegations Against Florida, TN Pharmacy Groups 
Wall Street Is Gaining Access to New Catastrophe Models to Help Predict Wars 
Ship Owner Seeks Dismissal of Economic Loss Claims From Baltimore Bridge Collapse 
Worker’s Refusal of Light Duty Does Not Have to Relate to Injury, Georgia Court Says 
