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The Division of Insurance regulates the state's insurance industry, including the life, health, and property & casualty insurance industries. The division currently employs approximately 330 individuals in four units. The division was reaccredited in 2010 by the National Association of Insurance Commissioners (NAIC) for five years. [16]
Governor Chris Christie nominated Considine to serve as Commissioner of the New Jersey Department of Banking and Insurance (DOBI) on January 15, 2010. [6] [7]Considine repealed several out-dated or burdensome regulations, led DOBI through reaccreditation by the National Association of Insurance Commissioners (NAIC) and Conference of State Banking Supervisors (CSBS) and fought insurance fraud.
Steven M. Goldman served as the Commissioner of Banking and Insurance of New Jersey from 2006 to 2009. He was nominated to the position in February 2006 by Governor of New Jersey Jon Corzine. Goldman is an attorney who specialized in banking and insurance law, prior to his appointment as commissioner.
New Jersey increased car insurance minimums in 2023, and they’re going up again in 2026. ... Each state’s department of insurance sets its own rules for how much auto insurance you need to buy ...
The Department of the Treasury seeks to ensure the most beneficial use of fiscal resources and revenues to meet critical needs, all within a policy framework set by the governor; to formulate and manage the state's budget, generate and collect revenues, disburse the appropriations used to operate New Jersey state government, manage the state's ...
The office of an insurance commissioner is established either by the state constitution or by statute. While most insurance commissioners are appointed, in some jurisdictions they are elected. [ 1 ] The office of the insurance commissioner may be part of a larger regulatory agency, or an autonomous department.
[citation needed] He also served on the Board of Directors of New Jersey Transit. [2] Following the resignation of Joseph F. Murphy as state Insurance Commissioner in March 1984, Kean appointed Merin to serve as Acting Commissioner. [3] He was later nominated to serve as Commissioner and won confirmation by the New Jersey State Senate ...
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