Agents Join N.J. Insurer Lobby

NU Online News Service, May 13, 10:41 a.m.EST?The Professional Insurance Agents of New Jersey hasjoined the Coalition for Auto Insurance Competition, whose aim isthe reform of the state's auto insurance laws.

The Newark based association said PIANJ joins another agentassociation, the Independent Insurance Agents of New Jersey, andindustry trade associations, the American Insurance Association,the Insurance Council of New Jersey, and the National Associationof Independent Insurers.

The coalition says its aim is to call for reforms that wouldattract auto insurers to the state, create competition and increaseconsumer choice. The coalition wants to do away with thetake-all-comers regulatory rating system in the state and allow for"industry-accepted standard underwriting."

The association is also looking to eliminate the 6 percentceiling on companies' profits. Companies must reimburse customersif they exceed the ceiling.