New Jersey News

New Jersey Targeting Growth in Captive and Reinsurance Markets

New Jersey Insurance Commissioner Tom Considine praised new, bipartisan legislation that would grow the reinsurance market and create a captive insurance market in the Garden State. The captive insurance bill was put forward in the Assembly by Democrat Gary Schaer, …

Specialty Insurer to Offer High Value Property Lines in Texas

PURE Risk Management LLC, based in White Plains, N.Y., is expanding its Privilege Underwriters Reciprocal Exchange (PURE), a member-owned reciprocal insurer, to offer comprehensive, customized property and casualty insurance coverage to responsible owners of well-built, high-value homes in Texas. The …

Obama Eyes Raising Oil Spill Liability Limit; BP Says It’s Not An Issue

The White House is pushing to lift the limit on how much BP pays for the Gulf Coast oil spill. Press Secretary Robert Gibbs said the administration wants to work with Congress to change a law that caps at $75 …

Mercury Partners with Personal Lines Growth Alliance

The Personal Lines Growth Alliance (PLGA), a coalition within the independent agency system, announced that Mercury Insurance Group is a founding financial partner. Mercury is the first of many insurance carriers that will become financial partners, according to PLGA Chair …

Seven North Jersey Residents Charged In Auto “Give Up” Scheme

Seven New Jersey residents have been charged with insurance fraud and related charges for lying to police that their cars had been stolen in order to collect insurance money, the New Jersey Attorney General’s office said. Indicted in the scheme …

Few New Jersey Teens Comply with Driver Decal Law

Few New Jersey teen drivers are complying with the nation’s first law that requires them to display decals on their license plates. Fewer than one in four had purchased decals when the new law went into effect on Saturday. State …

Federal Law May Limit BP Liability in Oil Spill

A federal law may limit how much BP has to pay for damages such as lost wages and economic suffering in the Gulf Coast oil spill, despite President Barack Obama’s assurances that taxpayers will not be on the hook. A …

Business Moves

Foremost Foremost Insurance Group has launched its DistinctChoice Auto program in Connecticut. The auto program features increased limits, deductible options and coverages. The program also offers broad eligibility and discounts, including multi-policy discount and a five-year accident/violation free discount. PURE …

People

TD Insurance Inc. in South Portland, Maine, has hired Leah K. Halsey as an account executive in employee benefits. She is responsible for working with employers throughout northern New England to design, implement and manage their various employee benefit programs. …

Business Moves

Fiesta Auto Insurance Huntington Beach, Calif.-based Fiesta Auto Insurance, a franchise system to combine insurance and tax preparation under one roof, opened 20 new locations. The company’s growth phase has increased its presence to more than 60 open locations throughout …