Contact FreedomWorks

400 North Capitol Street, NW
Suite 765
Washington, DC 20001

  • Toll Free 1.888.564.6273
  • Local 202.783.3870

Press Release

    New Jersey’s Day Of Reckoning Arrives As Nonrenewals Begin

    09/12/2002

    State Farm Insurance will soon inform some New Jersey customers that they are among the 4,000 who will be non-renewed each month as part of the company’s five-year plan for withdrawing from what is clearly the nation’s worst auto insurance market. More than a year in the making, the nonrenewals will toss several hundred thousand policyholders into the marketplace in a steady stream that will exceed the capital capabilities of remaining insurers. With no new capital likely to enter the market, New Jersey should be girding itself for a full-fledged market crisis.

    Click here for the complete publication.