New Jersey coastal property owners are having a hard timefinding insurance placements in the primary market, but insuranceremains available in the surplus lines, according to an agent groupsurvey.
A poll of 49 agents conducted by the Professional InsuranceAgents of New Jersey finds that insurance is still available tocoastal risks, but compared to last year there is more difficultyfinding coverage.
Of the 49 surveyed, 33 said availability was worse or much worsethan last year. Almost all agents say that insurers have placedsome type of restriction on the risks, and most say that more thanhalf of their coastal risks are now written in the surplus linesmarket. A total of 16 agents said they are writing all of theirrisks in surplus lines.
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