New Jersey Automobile Insurance Risk Exchange

P.O. Box 66065, Lawrenceville, New Jersey 08648

(609) 890-3406

 

                                                                                                            November 30, 2005

 

To NJAIRE Member Companies:

 

The New Jersey Automobile Insurance Risk Exchange (NJAIRE) Board of Directors has two openings for directors from non-affiliated carriers, licensed and writing auto business in New Jersey. 

NJAIRE Board members must be New Jersey residents.  Each recommended member's biography or resume is submitted to the Governor's office for review and, as a courtesy, it's also shared with the Department of Banking and Insurance.  If approved, the recommended person is nominated by the Governor.  The nominee must complete two legislative questionnaires for submission to the Senate. The Governor's office notifies the Senator in the legislative district in which the nominee resides in order to obtain the Senator's approval of the nominee thus assuring introduction of the nomination to the Senate of the nominee's proposed appointment. However, the nominee is required to contact his or her Senator to introduce him or herself and to officially request the appointment. The process usually takes several months, resulting in a 5 year appointment.

The NJAIRE Board meets at least quarterly, usually in East Windsor at a hotel convenient to Exit 8 of the New Jersey Turnpike.  The NJAIRE Board oversees all activities prescribed under New Jersey's AIRE statute to assure carrier compliance involving New Jersey's dual liability threshold.  We assess all New Jersey carriers ($56.7 million in 2004) and redistribute these funds, less NJAIRE expenses. 

NJAIRE utilizes 3 primary vendors.  ISO is our central processor, AIPSO is our compliance auditor, and Withum, Smith and Brown provide the annual exchange financial audit.  We have a one person office, with General Manager Bill Clarke.  Paige Berry of Reed Smith is our Counsel.

If you have someone you'd like to recommend, please send person's name and bio/resume electronically by January 26, 2006 to gmanager@njaire.org.