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By Adam Bauer | January 17th, 2013 - 3:33pm
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 NEW BILL WOULD HOLD INSURERS ACCOUNTABLE TO NJ STANDARDS

Senator Jennifer Beck has introduced legislation that clarifies the Department of Banking Insurance’s jurisdiction over the processing of certain flood insurance claims. The bill specifies that though flood insurance is administered by Federal Emergency Management Agency (FEMA) and the National Flood Insurance Program (NFIP) the actual claims process must adhere to New Jersey Department of Banking and Insurance (DOBI) laws and regulations. In most cases in New Jersey, the NFIP flood insurance itself is purchased from New Jersey-based private insurance companies who participate in FEMA’s “Write Your Own” program. Additionally, those same New Jersey-based insurers are often administering the claims.

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Adam Bauer, 609.847.3600

Wake-Up Call

Morning Digest: September 19th

NBC News: Federal charges ruled out for Christie in Bridgegate scandal NBC News tonight is reporting that federal investigators say after nine months of investigating Bridgegate there is 'no evidence" that Gov. Chris Christie had advance knowledge about any politically motivated scheme around the bridge lane closures at the...

Op-Ed

Legislation needed for publicly financed gubernatorial elections

By JEFF BRINDLE It is critical that the Legislature soon enact a pending bill that would ensure the state’s Gubernatorial Public Financing Program is available in the event of a special election for governor.  Not only is there no current legal... Read More >

Contributors

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