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New Jersey to Examine Books of 50 Auto Insurers.
Byline: Randy Diamond
Dec. 22--Banking and Insurance Commissioner Holly Bakke ordered investigators on Friday to examine the books of all 50 of the state's auto insurers to determine whether they are deliberately avoiding writing policies.
Bakke took the action after revealing that an undercover probe in October into the sales practices of auto insurers produced the same results as an investigation during the summer: Many of the insurers are avoiding selling auto policies.
"While some steps companies are taking may not technically be illegal, they clearly do not meet the spirit of New Jersey's take-all-comers law," Bakke said. "These targeted …
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