VIEWS: 9 PAGES: 1 POSTED ON: 8/10/2009
NEW JERSEY’S AUTO INSURANCE SYSTEM IS A WRECK Years of piling on regulations have made a wreck of New Jersey’s auto insurance system. Unworkable regulations have driven over 20 auto insurers out of New Jersey in the last decade. Four out of the six largest insurers in America don’t do business here. Commerce and Industry Association, of New Jersey, Independent Insurance Agents, of New Jersey, New Jersey Retail, Merchants Association, Somerset County, Chamber of Commerce, Citizens for a Sound Economy, NJ SEED (Society for Environmental, Economic Development), New Jersey Food Council, Professional Insurance Agents, of New Jersey, Insurance Council of New Jersey, American Insurance Association, National Association of, Independent Insurers, National Association of, Mutual Insurance Companies, It Could Get A Whole Lot Worse. Two more major insurers have announced their intention to also leave New Jersey. That will leave over one million drivers scrambling for coverage. One in five New Jersey drivers could be impacted. Lawmakers need to enact reforms that will increase competition. We don’t need any more temporary “political” solutions—we need real reforms that create a competitive market where consumers have real choices. You Can Make A Difference. A bipartisan coalition of consumers, small businesses, insurers and agents is working on a plan to restore competition to New Jersey’s auto insurance market. Your involvement can make a difference. To learn more or join our coalition, visit www.njcaic.org.
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