Close to two years after New Jersey enacted a sweeping personal auto insurance reform program, an industry group said the state's market is showing signs of a healthy recovery, but additional measures need to be taken to ensure the improvements continue.
The Property Casualty Insurers Association of America credited the improved market directly to reforms enacted by the New Jersey Legislature in 2003.
Richard Stokes, regional vice president for PCI, said in a statement, "New Jersey was once the poster child for how not to regulate a healthy auto insurance market."
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