NJ insurance regulators tell lawmakers they need big staff increase

The state department that regulates the insurance and banking industries is seeking a budget increase to hire more staff.

By: Lilo H. Stainton

Outlets: New Jersey Monitor

Published: April 28, 2026

Words: 514

Last Updated: 2 months, 2 weeks ago

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New Jersey’s insurance and banking regulators on Tuesday defended their push for a roughly 18% hike in their budget for the next fiscal year, a request that comes even as Gov. Mikie Sherrill has said she is seeking to close a budget gap.

The state Department of Banking and Insurance wants $80.8 million in the coming budget year, much of which would go to overcome what it called a 25% staff deficit. …

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