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 Banking and Insurance. A 6.9 percent increase is …
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 reinsurance recoveries and inclusive of reinstatement …
Atlantic City has decided to bill insurance companies for fire department services. The City Council approved the ordinance this week without setting fees. Glassboro implemented such a system in 2005. Fire Chief Ralph Johnson told The Press of Atlantic City …
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 independent agency insurer and part of the Plymouth …
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 $290,000 on that house. …
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 Wells Fargo Insurance Services to further expand its …
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 designated as a tropical storm, not a hurricane, when it …
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 housing. It also allows for federal help with …
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 deliver emergency supplies. The storm battered the …
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 flood policies purchased through the Federal …
