The Professional Insurance Agents of New Jersey Inc. issued a statement supporting the Department of Banking and Insurance (DOBI) on its proposed new rules regarding increasing the number of licensed producers on the Personal Automobile Insurance Plan and the Commercial Automobile Insurance Plan committees from three to four.
PIANJ President John D’Agostino Jr., CIC, provided the association’s comments in a written letter to Assistant Commissioner Douglas A. Wheeler.
“PIANJ supports the department’s goal to broaden producer participation,” wrote D’Agostino. “With the changing marketplace producers have the best handle on the current pressures and are a good barometer for carrier activity in the real world.”
The PIANJ indicated that “by increasing the number of insurance producers on each committee, consumers’ interests will be protected by individuals who understand the fluctuations in the market at the customers’ level.”
Was this article valuable?
Here are more articles you may enjoy.
Viewpoint: Beware These Commercial Auto Endorsements! 
KCC Says Isaias Insured Losses to Be $3 Billion; AM Best Calls Storm an Earnings Event 
EU Cyber Agency Warns Websites May Go Dark as PHP Prepares Critical Fix 
Home Insurance Tops Property Taxes in Squeeze for US Households 
