New York Insurance

Direction: The assurance of the economy, the debt of New Jersey’s Insurance Commissioner for nearly 1 billion dollars in losses by État’s Joint Underwriting Association on policy motorists, studies on the basis of the Commissioner and its costs more different conclusions.

The insurance companies, the debt of New Jersey’s Insurance Commissioner for nearly 1 billion dollars in losses by État’s Joint Underwriting Association on policy motorists, studies on the basis of the Commissioner and its costs more different conclusions.

Verification of Industry, on behalf of the American Insurance Association, said the company, the State may debt association with less than $ 10 million. The review shows that the industry is girding to fight against the commissioner in court.

But the commissioner, Kenneth E. Merin said the verification of new questions about how the company operates in the years serves Underwriting Association. Releases about loading

Last month, Mr Merin released scores of internal audits by the 15 service companies. The assessment, carried out by two auditors by the State asserts that the losses of the club were the result of $ 428 million in too many requests and $ 375 million in overcharges on insurance by airlines.

Mr Merin said that on the basis of these evaluations, he complained institutions for the return.

The air transport companies had written policies and common services for applications Underwriting Association from 1984 until earlier this year, if the contract was awarded to four IT companies and vehicle insurance. The Insurance Association, whose headquarters is to reassure drivers with bad records, insurance has expired nearly half of the State pilot.

Robert A. Gaines, Vice President of the American Insurance Association in Washington, said decisions on managing the threat judicial Kampf”wird depend on each institution will continue.”He said the commissioner of insurance costs wurden” völlig without validity.”State of a commission planning Reply

Merin Commissioner said he had given the recent report by industry audit doubts that the state, the study - Arthur Andersen & Company in Chicago and the Insurance Committee Management Group Inc. Stamford, Conn. He said he had a detailed reply, as he heard of him. He said he would still try to refund insurance companies.

”We may ask other companies to resources, as it appears from their report, they can, what we do, they should not,’’said the Commissioner, City of Industry The report shows that some companies do not have the images of vehicles damaged and that some companies in the ratio of expenses for reimbursement of losses of conflict.

The insurance industry study was conducted under the direction of Kramer Associates of New York, whose chairman, Orin S. Kramer, who served as vice president and general manager of a commission of Dir Mario M. Cuomo study in New York State’s insurance liability crisis and Law Reform.

The report by Kramer in New Jersey criticized the method used by the Insurance Management Group in its report that serious error”.” And he explained that maintenance costs, insurance companies have been set by State and proved to be judicious. The report also notes that the firm Anderson’s results show disc “expenditure during the year 1988 more than their income of $ 50 million.

”The image degradation partly explains the lack of interest for insurers in seeking JUA Carrier roles in recent years,”the report said Kramer. Adoption load arbitrary

The report indicates Kramer Management Group of insurance arbitrarily assumed that 10 percent of all beneficiaries, an accident and not automatically, within 48 hours would retain a lawyer to derive management costs.

Insurance Management Group, Mr Merin, replied only 48 hours default came from space Industry Research Advisory Council, an organization of insurance companies, and that time does not start to pay, the affirmation lies in the hands of a claims manager.