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Statement Regarding Banking and Insurance Commissioner Considine

January 30, 2012

WEST TRENTON, NJ — The tenure of Banking and Insurance Commissioner Tom Considine was praised today by Bernie Flynn, President and CEO of New Jersey Manufacturers Insurance Company (NJM).

"Commissioner Considine has been a strong consumer advocate while supporting a vibrant New Jersey insurance market. His record of accomplishment during his two-year tenure is impressive, particularly the leadership he displayed in response to the dramatic events caused by Tropical Storm Irene and the Department's initiative in proposing regulatory reforms in Personal Injury Protection medical coverage designed to control costs borne by auto insurance policyholders," Flynn said.

"We look forward to working with the Governor's nominee as Commissioner, Ken Kobylowski, in the continuing effort to better control medical costs for the benefit of all New Jersey drivers," Flynn said.

New Jersey Manufacturers Insurance Company is the largest provider of Personal Auto and Workers' Compensation insurance in New Jersey and is a major carrier of Commercial Auto and residential coverages. The Company operates exclusively for the benefit of its policyholders. As part of this commitment, NJM has returned dividends to policyholders each year since 1918, a total of more than $5.0 billion.