"Plenty" of P/C insurers remain in N.J. after Sandy, regulator says

04/29/2013 | PropertyCasualty360

New Jersey faces no problems with the availability of property/casualty insurance in light of Hurricane Sandy, said Kenneth Koblyowski, the state's insurance commissioner. "That is one of our biggest concerns and thankfully, we still have plenty of companies writing in New Jersey," Koblyowski said. The industry's payouts on 316,801 Sandy-related claims were worth $3.23 billion, while 98,649 claims were closed with no payouts, Koblyowski said. "This was the largest insurance event the state has ever seen. I think insurers for the most part have done an excellent job," he said.

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