New Jersey News

Tower Completes Acquisition of OneBeacon’s Personal Lines Business

Tower Group Inc. has completed its acquisition of the personal lines business of OneBeacon Insurance Group for $167 million. The completed transaction includes the acquisition by Towers of Massachusetts Homeland Insurance Co., York Insurance Co. of Maine and two management …

U.S. Launches Pre-Existing Condition Health Insurance Plan

The U.S. Department of Health and Human Services (HHS) announced today the launch of a Pre-existing Condition Insurance Plan (PCIP) that will offer coverage to uninsured Americans who have been unable to obtain health coverage because of a pre-existing health …

New Jersey Agent Allegedly Made Up Company, Kept Premiums

A New Jersey grand jury has indicted a Burlington County insurance agent for pocketing payments from three clients, according to Attorney General Paula T. Dow. Lee Schaffer, of Marlton, was charged with insurance fraud, theft by failure to make required …

New Jersey to Cease Printing Agents’ Licenses

Print it yourself. That’s what New Jersey’s insurance regulator is telling insurance agents about their insurance licenses. The department issued a new bulletin advising agents and public adjusters in the state that, starting next month, it will no longer print …

Mercer Insurance Group Rating Upgraded to Stable From Negative

A.M. Best Co. has revised the outlook to stable from negative and affirmed the financial strength rating of A (Excellent) and issuer credit ratings (ICR) of “a” of Mercer Insurance Group of Pennington, N.J. The ratings apply to the four …

Ratings Recap: Mercer Group, CAMICO, First Jersey

A.M. Best Co. has revised the outlook to stable from negative and affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the New Jersey-based Mercer Insurance Group. The ratings also apply to the …

Cumberland Appoints Ritter as CEO

New Jersey-based The Cumberland Insurance Group has named Paul J. Ritter III president and CEO, following the retirement of current president and CEO Robert P. Brady after 33 years of service. Ritter joined Cumberland in 1999 as the assistant secretary …

Lawsuit Fears Lead to Overtesting by Hospital Emergency Rooms

Fast decisions on life-and-death cases are the bread and butter of hospital emergency rooms. Nowhere do doctors face greater pressures to overtest and overtreat. The fear of missing something weighs heavily on every doctor’s mind. But the stakes are highest …

Romano Joins Integro in New Jersey

New York-based brokerage and risk management firm Integro appointed Jennifer Romano as managing principal, based in New Jersey. She will manage complex placements and risk consulting services for healthcare clients throughout New Jersey and the Tri-state area under the leadership …

11 East Coast States Hold BP Responsible for Oil Disaster Claims

Eleven East Coast states have told BP they will hold it responsible for any losses caused by its still-growing oil spill in the Gulf, Connecticut’s attorney general said Monday. “Even without oil actually reaching the Connecticut shoreline, this massive oil …