New York Insurance

In the aftermath of the Allstate Insurance Company records, a New Jersey plan to draw officials from the State budget, Teresa Robbins went to their agent here a few questions and a sense of deja-vu experience.

She said they were forced to change the insurer if you drew New Jersey to New York City four years ago from their company, Geico, she says, she had written to no longer self-politique dans le New Jersey.

“Well Allstate out,” Robbins said with a sigh. “What are you leaving? I put to all this, again in a year? Who should I use? And I must return to New York to avoid all these problems? ”

Across New Jersey, today, thousands of customers like Ms. Robbins nervous flooded offices of the state with the biggest insurers variations of questions, she asked about their policy. Afflicted local staff declined to talk about their reactions with journalists, who say they were under strict orders relating to reporters’ requests for Allstate spokesman. Added a second car

Ms. Robbins wanted a second car in their car policy today. Agents, and presented its new premium payment.

And she wanted some assurances about the length of coverage. For example, she said before the visit of their agents here, they wanted to know if they receive a refund if the policy six months ended three months.

After the meeting she said, “The agent said, would not be a problem because he thought he would be at least five years before it was fair.”

Company officials said it would be at least two years, maybe five, before a self-485000 Allstate insurance policies could be terminated plan the withdrawal. The company said Monday he wanted out after years of suffering of its losses on auto insurance.

“There is no need to panic, the company of his assistants, General Counsel, Richard Leven area, said by phone from Allstate’s headquarters in Northbrook, Ill.” This will be a slow process and responsibly. Customers do not need immediate action. “The handwriting is distributed

Allstate’s on the sales office here, officials distributed a letter said it was now by e-mail to all insurers to policyholders in New Jersey, including 485000 self-insurance and an additional 250000 with the policy in houses, apartments, houses, boats and other property.

In boldface, the letter states that “the report is not directly concerned” by the company to plan his retirement.

“Be assured that your current insurance coverage is still valid and are already for some time to come,” the letter continued. “We’ll give at least one year before the expiry of reference of your policy, followed by an additional indication of a non-renewal”.

The letter advises customers in New Jersey with questions to their local agent or a Special Allstate Insurance Service Centre at 1-800-776-1198.

The letter was written by Jerry D. Choate, the company’s president, property damage and personal accident insurance.

Mr. Leven field, the Assistant General Counsel, said New Jersey’s insurance law, insurance commissioner, Samuel F. Fortunato, had 160 days to make a decision on the withdrawal plan. Mr. Leven said the scope of the law the right of Mr. Fortunato, overtime and the company expects to do so.

According to the timetable, Allstate has proposed that the company had a year from the time when the state approves the withdrawal plan, find their insurance cover with another insurance company, Mr field Leven said. If Allstate replacement can not find coverage of this year, while insurance and would have an indication of a year to find new coverage on its own policies Allstate before its expiry, “said Leven field.

He said that this period of two years, the proposal was Allstate. After New Jersey’s insurance law, he said, the state could, therefore, that five years are spent cover the search for a substitute policy before stopping.