Insurance

NJ Insurance Chief Gets Rate Hike Suit Sent to State Court

By Josh Liberatore (August 26, 2022, 7:53 PM EDT) — A New Jersey federal judge handed a win to the state’s insurance regulator, granting its bid for remand in its suit challenging the Pennsylvania Insurance Department’s plan to raise rates for some New Jersey long-term care policyholders.

In an unpublished opinion Thursday, Chief U.S. District Judge Freda L. Wolfson said her court doesn’t have subject matter jurisdiction over the suit, which was filed by New Jersey Department of Banking and Insurance Commissioner Marlene Caride against the Pennsylvania Insurance Department and its acting chief, Michael Humphreys.

The New Jersey regulator is one of several state insurance departments seeking an injunction against Humphreys’…

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