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WARNER INSURANCE ANNOUNCES APPROVALS FROM N.J. DEPT. OF INSURANCE FOR ITS LAD BUSINESS PLAN IN CONJUNCTION WITH CLARENDON NATIONAL INSURANCE

 WARNER INSURANCE ANNOUNCES APPROVALS FROM N.J. DEPT. OF INSURANCE FOR


ITS LAD BUSINESS PLAN IN CONJUNCTION WITH CLARENDON NATIONAL INSURANCE
 FAIR LAWN, N.J., Oct. 30 /PRNewswire/ -- Warner Insurance Services, Inc. (NYSE: WCP) today announced that it has received approval from the New Jersey Department of Insurance (DOI) to act as a Limited Assignment Distribution (LAD) Servicing Carrier in New Jersey for assigned risk auto insurance business. The New Jersey DOI also has approved Clarendon National Insurance Company as a LAD Carrier for the New Jersey Personal Automobile Plan (PAIP) for assigned risk motorists. Warner and Clarendon National are parties to a contract pursuant to which Warner will perform all servicing functions for underwriting, policy issuance and administration, and claims adjustment and defense related to policies issued by Clarendon National as a LAD Carrier.
 Warner presently estimates that New Jersey assigned risk plan motorists should number between 250,000 and 400,000. Clarendon National is awaiting approval from the Governing Board of PAIP to write approximately 12 percent of this business as a LAD Carrier.
 Harvey Krieger, president and chairman of Warner, expressed satisfaction in this development since it is "a natural extension of our strategic plan to become the premier provider of full service to the automobile insurance industry."
 Warner Insurance Services, Inc., a New York Stock Exchange company, is a full service provider of services to the automobile insurance industry including underwriting, policy maintenance and claims adjustment.
 -0- 10/30/92
 /CONTACT: Bradley J. Hughes, vice president-finance and administration of Warner Insurance Services, Inc., 201-794-4817/
 (WCP) CO: Warner Insurance Services, Inc. ST: New Jersey IN: INS SU:


TS -- NY076 -- 7186 10/30/92 14:21 EST
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Publication:PR Newswire
Date:Oct 30, 1992
Words:279
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