Insurer Backs Down: ITT Hartford Insurance Group...
From Times Staff and Wire Service Reports
Insurer Backs Down: ITT Hartford Insurance Group said it would continue to write auto insurance policies, bowing to a threat from New Jersey state officials. ITT was attempting to withdraw from the New Jersey auto insurance market in reaction to Gov. Jim Florio’s auto insurance reforms. The program forces the industry to pay nearly half of a $3-billion debt incurred by a state-run pool that covers high-risk drivers.