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Progressive Eyes Return to New Jersey Auto Insurance Market

Citing an improved business climate in the state, Progressive is considering a return to the New Jersey auto insurance market. Progressive pulled out of New...
March 9, 2005

Citing an improved business climate in the state, Progressive is considering a return to the New Jersey auto insurance market. Progressive pulled out of New Jersey in 1983 because of unfavorable state regulations. In the ensuing 22 years, New Jersey lawmakers and the Department of Banking and Insurance have made significant reforms. Progressive's president and CEO Glenn M. Renwick wrote in the company's annual report for 2004 that Progressive had "allocated significant resources to evaluate" a return to New Jersey - one of two states where the company does not underwrite personal auto insurance. The other state is Massachusetts.

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