Article: New Jersey officials hope return of insurer GEICO means lower driver costs.

By Richard Newman, The Record, Hackensack, N.J. Knight Ridder/Tribune Business News

Aug. 17--Take it from billionaire investor Warren Buffett: New Jersey is now a good bet for auto insurers.

The chairman of Berkshire Hathaway came to Trenton on Monday to announce that GEICO Corp., a Berkshire Hathaway subsidiary, is returning to New Jersey.

GEICO pulled out of the auto insurance business in New Jersey in 1976, after the state switched to a no-fault insurance system, which can force an insurer to pay a policyholder's claim, even if the driver of another vehicle caused the accident.

In recent years, as the airwaves have been ...

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