A challenging moment for New Jersey’s personal auto market
The acquisition adds to World’s footprint in a state where personal auto insurance, one of Clarke’s core lines, is going through a turbulent stretch. New Jersey implemented the second and final phase of a legislatively mandated increase to minimum auto liability limits on January 1, 2026, raising the bodily injury floor 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 at renewal.
