N.J. Challenges Lure Mercury General
July 29The chairman of California-based Mercury GeneralCorp. said the firms recently announced decision to enter the NewJersey auto insurance market was brought on by recent regulatoryreform and a belief there is enormous opportunity for growth.
George Joseph, who is also chief executive of the LosAngeles-based insurer, told National Underwriter, “I thinkwhat we can see now is the beginning of less micro-managing of thebusiness to encourage companies to come into that state.” Foryears, he said, New Jerseys department of insurance and its statelegislature had been micro-managing auto insurance.
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