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Coalition Distributing Asbury Aqua At Springsteen Concert Tomorrow
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Coalition Distributing Asbury Aqua At Springsteen Concert Tomorrow

Bruce Springsteen may be hot here in New Jersey, but tomorrow's expected 90-degree temperatures in Asbury Park may be hotter. To help folks visiting the boardwalk tomorrow beat the heat, New Jersey's Coalition for Auto Insurance Competition will give away free Asbury Aqua bottled water to Bruce fans. Springsteen is scheduled to perform at the historic Asbury Park Convention Center for NBC's Today's Show. "New Jersey drivers need relief from oppressive state regulations that stifle auto insurance choice and competition," said Coalition chairman John Friedman. "By giving away free bottled water tomorrow, we'll provide Bruce fans some relief from the heat." Seeking to prevent an unprecedented statewide auto insurance capacity crisis precipitated by the deterioration of the auto insurance industry's financial health in New Jersey, the Coalition is urging Trenton lawmakers to reform New Jersey's auto insurance laws and regulations to create a stable and competitive market. The Coalition for Auto Insurance Competition, a New Jersey-based group open to businesses, associations and consumers, cites the state's regulation of auto insurance as the culprit behind limited competition by discouraging insurance companies from doing business in New Jersey. "You'd think some auto insurance companies were born to run out of New Jersey," said Freidman. "More than twenty insurers have fled the state in the past ten years due to excessive regulation." The latest figures show New Jersey has 47 percent fewer companies selling auto insurance than Illinois and more than a third fewer than neighboring New York and Pennsylvania. "We need a regulatory system that promotes competition, encourages companies to sell auto insurance in New Jersey, and creates a stable market that offers more choices for consumers," said John Friedman, chairman of the Coalition for Auto Insurance Competition. The group is calling for reforms that will attract more auto insurers to New Jersey, spurring competition and increasing consumer choice. These reforms include permitting companies to use industry-accepted standard underwriting methods already used in nearly every state and adjusting the low ceiling on company profits to permit a reasonable rate of return. "It's only natural to expect that consumers will shop around for the best deal if they have more choices. Competition and choice benefit consumers and when companies compete, consumers win," said Friedman. The Coalition welcomes the participation of businesses, associations and consumers who seek to work together to bring about meaningful and responsible auto insurance reform. Members include the National Association of Independent Insurers, Insurance Council of New Jersey, American Insurance Association, New Jersey Chamber of Commerce, Independent Insurance Agents of New Jersey, Citizens for a Sound Economy, National Association of Mutual Insurance Companies, New Jersey Association of REALTORS(R), Professional Insurance Agents of New Jersey, New Jersey Food Council, New Jersey Retail Merchants Association, NJ SEED (Society for Environmental, Economic Development), Somerset County Chamber of Commerce and the Commerce and Industry Association of New Jersey.

07/29/2002
Coalition Applauds Introduction of New Jersey Auto Insurance Competition and Choice Act
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Coalition Applauds Introduction of New Jersey Auto Insurance Competition and Choice Act

The Coalition for Auto Insurance Competition applauded today's introduction of legislation to restore competition to the state's auto insurance market. "This bill is an important achievement toward modernizing the state's auto insurance laws and placing New Jersey in the mainstream of state regulation of auto insurance," said John Friedman, the Coalition's chairman. "The state's auto insurance marketplace is unstable and dysfunctional, requiring immediate reform that instills more company competition and more choices for consumers."

06/27/2002
Auto Insurance Choice and Availablity Shortage Remain Despite State Decision On State Farm in New Jersey
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Auto Insurance Choice and Availablity Shortage Remain Despite State Decision On State Farm in New Jersey

A state announcement delaying State Farm's application to withdraw from New Jersey's auto insurance market neither ends the threat to auto insurance availability nor remedies consumers' woeful lack of auto insurance choice, warns the Coalition for Auto Insurance Competition.

06/25/2002
New Jersey Assocation of Realtors Joins Coalition for Auto Insurance Competition
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New Jersey Assocation of Realtors Joins Coalition for Auto Insurance Competition

The Coalition for Auto Insurance Competition today announced that the New Jersey Association of REALTORS(R), a non-profit association representing the professionals needs of approximately 36,000 REALTORS(R) in the state, has joined the Coalition in the effort to reform New Jersey's auto insurance laws to spur consumer choice and market competition.

06/12/2002
Coalition for Auto Insurance Competition Calls On McGreevey Administration to Urgently Address Auto Insurance Availability
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Coalition for Auto Insurance Competition Calls On McGreevey Administration to Urgently Address Auto Insurance Availability

The Coalition for Auto Insurance Competition today called upon the McGreevey Adminstration to quickly address the likelihood that auto insurance will become more difficult for New Jersey drivers to purchase due to State Farm's application to stop doing business in New Jersey.

06/03/2002
for Auto Insurance Competition Launches New Wave in Campaign for Fundamental Auto Insurance Reform in New Jersey
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for Auto Insurance Competition Launches New Wave in Campaign for Fundamental Auto Insurance Reform in New Jersey

The Coalition for Auto Insurance Competition is launching an additional wave of advertising as part of its continuing statewide media campaign for reforming New Jersey's car insurance system to increase insurance competition and consumer choice.

05/14/2002
State AG's to Consumers: Here's Your Swiss-Cheese Security Program
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State AG's to Consumers: Here's Your Swiss-Cheese Security Program

"Consumers are likely to face higher security costs due to increased risks of viruses and hackers," concluded Citizens for a Sound Economy (CSE) vice president Erick Gustafson following the testimony of Virginia professor Kenneth Elzinga. "Far from providing additional consumer benefit, the non-settling states so-called remedy is going to result in confusion, chaos, and a better environment for criminals. Perhaps I've just missed why this is good for consumers, but it really appears as though the states' proposal is designed to benefit Microsoft's competitors," he continued.

05/09/2002
Professional Insurance Agents Of New Jersey Joins Coalition For Auto Insurance Competition
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Professional Insurance Agents Of New Jersey Joins Coalition For Auto Insurance Competition

The Coalition for Auto Insurance Competition today announced that the Professional Insurance Agents of New Jersey, an association representing independent insurance agents throughout the state, has joined the Coalition in the effort to reform New Jersey's auto insurance laws to promote choice and competition.

05/08/2002
Coalition Launches New Wave In Campaign For Fundamental Auto Insurance Reform In New Jersey
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Coalition Launches New Wave In Campaign For Fundamental Auto Insurance Reform In New Jersey

The Coalition for Auto Insurance Competition is launching a new wave of advertising as part of a statewide media campaign to galvanize support for fundamental reform of New Jersey's car insurance system that will result in increased insurance competition benefiting our state.

04/08/2002
Coalition Seeks Auto Insurance Regulations Spurring Competition, but not Deregulation
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Coalition Seeks Auto Insurance Regulations Spurring Competition, but not Deregulation

While welcoming the release of an economic study by Rutgers University professor of economics John Worrall showing how excessive state government regulation of New Jersey's auto insurance cripples market competition, the Coalition for Auto Insurance Competition believes creating new laws and regulations that spur competition and consumer choice is the answer to New Jersey's auto insurance mess, not deregulation.

03/20/2002

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