A challenging moment for New Jersey’s private auto market
The acquisition adds to Global’s footprint in a state where personal auto insurance, one of Clark’s core lines, is going through turbulent times. New Jersey enacted the second and final phase of legislatively mandated increases in minimum auto liability limits on January 1, 2026, raising the bodily injury limits to $35,000 per person and $70,000 per accident, up from $25,000 and $50,000 under the first phase enacted in 2023. Insurers were required to update rate filings and notify policyholders of the higher limits upon renewal.
