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Bill Protecting Agent Ownership Rights Signed In N.J.

Aug. 21–An insurance agents group is hailing enactment of a new law in New Jersey designed to protect agents’ ownership and commission rights when policies are transferred from one company to another.

John D’Agostino, president of the Professional Insurance Agents of New Jersey, said the law, Chapter 153, P.L.2003 (A-3319/S-2385), which passed the state legislature last June and was signed by Gov. James McGreevey in mid-August, will protect “the livelihood of thousands of independent agents, the small business owners throughout the state,” by safeguarding information obtained and used to provide their clients with professional service.

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