Business Managment

There were two main issues that Holly Bakke had prepared herself to deal with when she became the new Commissioner of the New Jersey State Department of Banking and Insurance. Namely the problems that she believed was long standing in the insurance industry for a very long time at the time were uninsured motorists or even insurance fraud. She believed that the biggest problems with the insurance industry would be the number one that she would like to combat. She in fact took up the responsibility of developing new Market Evaluation and Conduct Exams that would be the best way to keep track, using these tests it would be easier to know whether insurance agencies were doing the part that is required to make sure that frauds are being prevented in the insurance industry.

Holly Bakke also realized and wanted to work on the fact that the more competition that there would be in the auto insurance companies in New Jersey from new agencies, the better there would be an availability of better deals for citizens in New Jersey.

However Holly Bakke also publicly appealed to citizens of the state who would be able to give more inputs to them about the insurance systems and their grievances about the same.

It is evident therefore that Holly Bakke was the kind of Commissioner who was dedicated to working positively for the department and the insurance industry. She is a woman of substance who has achieved through her career and gathered experience as well.