N.J. Challenges Lure Mercury General

July 29The chairman of California-based Mercury General Corp. said the firms recently announced decision to enter the New Jersey auto insurance market was brought on by recent regulatory reform and a belief there is enormous opportunity for growth.

George Joseph, who is also chief executive of the Los Angeles-based insurer, told National Underwriter, “I think what we can see now is the beginning of less micro-managing of the business to encourage companies to come into that state.” For years, he said, New Jerseys department of insurance and its state legislature had been micro-managing auto insurance.

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