Survey Finds Insurers Appointing N.J. Agents in Record Numbers

Insurance companies are making new agency appointments in New Jersey in record numbers, reports the Professional Insurance Agents of New Jersey Inc.

According to data compiled this summer, at least 10 percent of the group’s members reported that they now have a new appointment with a carrier. The following companies were cited as appointing agents: American International Group, Andover Companies, Chubb Group, CNA, Cumberland, Foremost, Franklin Mutual, Greater New York, The Hartford, Mercury Group, Ohio Casualty, Palisades, Philadelphia Group, Preserver Group, Proformance, Quincy Mutual, St. Paul Travelers and Zurich.

According to Mary Christiano, communications director, the appointments are primarily for personal lines and attributable to the improvements in the auto insurance market, although a number also spill over into commercial lines.

The association annually updates its files on its members’ company representation.

This is a good time for New Jersey agents to be looking for new appointments, according to PIANJ. “Companies are looking at New Jersey with a whole new attitude. They want agents who can open up the state’s vast potential and bring them profitable business,” said John D’Agostino Jr., PIANJ’s past president.

According to A.M. Best, independent agents currently control about 63 percent of the state’s overall insurance marketplace.

D’Agostino is presenting a PIANJ seminar for agents on how to gain new markets on Nov. 1.