Cision PR Newswire

Car Insurer's History of Advocacy and Affordable Rates Drive Growth

SOMERSET, N.J. , Dec. 28, 2024 /PRNewswire/ -- NJBIZ unveiled its prestigious Business of the Year finalists, announcing CURE Auto Insurance as the winner for 2024. The awards were presented on December 12 during a ceremony in Somerset, NJ, celebrating the organizations that exemplify excellence and leadership in business.

For over 35 years, CURE Auto Insurance has stood out as a staunch advocate for equity in the auto insurance industry. The insurance carrier has taken a bold stance against income discriminatory practices adopted by its own industry, calling for legislative reforms to eliminate the use of credit scores, education, homeownership status, and occupation in determining insurance rates.

Since 2006 NJBIZ Business of the Year award honors the state's most dynamic companies and leaders who share a commitment to professional excellence, business growth and their communities. Winners across a range of categories are selected by an independent panel of judges comprising previous program honorees.

The Princeton-based insurer grew from $85 million in 2022 to more than $144 million in 2023 with over 350 employees in three different locations countrywide. In addition to doubling its New Jersey policies in one year, CURE increased its overall policyholder base from 75,000 to over 150,000 households creating an affordable option for thousands. The company's growth is a direct result of its focus on advocating for industry reform and providing a quality, affordable insurance option for all drivers, regardless of their income or socioeconomic status, according to CURE CEO Eric Poe.

"It is an honor to have received this award and I share it with our entire team whose hard work cannot be understated. They tirelessly go above and beyond amid remarkable growth – something that is not always easy," said Poe regarding this recognition. "It is also a testament that CURE is making an impact by staying true to our mission and advocating for fairness in car insurance rate-setting. We are steadfast to eradicate the use of income proxies and fight all forms of insurance fraud.  Our goal is to ensure that people who buy car insurance can afford it."

About CURE
CURE auto insurance, headquartered in Princeton, NJ, was founded in 1989 by New Jersey Insurance Commissioner James J. Sheeran and insurance expert Dr. Lena Chang to address New Jersey's insurance crisis. Specializing in no-fault insurance, CURE insures nearly 200,000 vehicles and drivers in New Jersey, Pennsylvania, and Michigan. For more information, visit www.CURE.com or call 800-535-CURE.

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SOURCE CURE Auto Insurance