At a hearing this week held by the New Jersey legislature, industry experts urged lawmakers to change the state‘s auto insurance system and make it less difficult for insurers to write business.
"Improved market stability would help attract new insurance companies to the state, enabling drivers to more readily obtain the coverage they need at a fair price," said Richard Stokes, Northeast government affairs representative for the Downers Grove, Ill.-based Alliance of American Insurers.
Mr. Stokes was one of several representatives who testified at an informational hearing on auto insurance held by N.J. Assembly‘s Banking & Insurance Committee.
