Princeton Insurance Co., New Jersey's largest medical malpractice insurer, will temporarily stop writing new policies on Aug. 21 in part because of its inability to secure reinsurance. As a result, the state insurance department has called a hearing to assess the medical malpractice reinsurance market in New Jersey. Princeton has "remained a committed player," while other insurers have left the state, state insurance Commissioner Holly Bakke said. "I am confident that Princeton's decision is both a temporary and a responsible one." Bakke added that the measure is "the most prudent course for the long-range protection" of Princeton subscribers. The company has a 53% share of the medical malpractice insurance market in New Jersey. -- by Cinda Becker
N.J. malpractice insurer puts hold on new policies
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