Company Overview

New Jersey Manufacturers Insurance Company is a cost-conscious insurer with a unique history and philosophy of service to policyholders. Formed in 1913 by factory owners who wanted to purchase insurance from a reliable, local safety-oriented carrier, the Company has earned a reputation for efficiency and integrity.

NJM writes coverage directly for consumers without the expense of agents' commissions, and operates in a mutual fashion exclusively for policyholders. The financial benefits of prudent stewardship of policyholder money are returned to customers in the form of dividends. More than $4.5 billion have been paid to policyholders as dividends since 1918.

NJM has earned a reputation for superior service and prompt, fair handling of claims. NJM customarily earns high marks in published surveys, particularly regarding customer and claims service in auto insurance. In addition to NJM recently finishing at the top in a reader survey by a national consumer magazine, the entire NJM Insurance Group has consistently drawn one of the lowest levels of valid auto insurance consumer complaints at the New Jersey Department of Banking and Insurance since records began in 1987.

NJM exercises stewardship in the use of policyholders' funds, operating with one of the lowest expense levels in the property-casualty insurance industry. In 2006, NJM Insurance Group spent approximately 11 cents per premium dollar on underwriting administrative costs, half the industry average that typically hovers around 25% to 26%.

Applications for all lines of insurance are carefully underwritten, which is essential to controlling costs for policyholders.

To be eligible for (Workers' Compensation or Commercial Auto Coverage), an employer must be a member of the New Jersey Business & Industry Association (NJBIA). Applicants for Personal Auto or Homeowners insurance must meet the membership eligibility criteria.

NJM owns three insurance subsidiaries: New Jersey Re-Insurance Company (NJRe), New Jersey Casualty Insurance Company and New Jersey Indemnity Insurance Company. The four insurance companies collectively are the NJM Insurance Group.

NJRe writes Workers' Compensation, Personal Auto and Homeowners coverages. NJRe also writes Flood insurance on behalf of the Federal Emergency Management Agency's (FEMA) National Flood Insurance Program. Additionally, NJRe writes Personal Excess Liability (Umbrella) coverage for insureds with both Auto and Homeowners coverages with NJM.

New Jersey Casualty Insurance Company and New Jersey Indemnity Insurance Company, which are licensed to write virtually all property-casualty coverages, began doing business in mid-1999. New Jersey Casualty currently is writing a small amount of business on behalf of the New Jersey Workers' Compensation Insurance Plan; New Jersey Indemnity is servicing policies written through the New Jersey Personal Automobile Insurance Plan (PAIP).

Ratings of A++ (Superior) for NJM and NJRe from A.M. Best Company, the nation's premier insurance analyst, offer further evidence of our exceptional financial strength and commitment to prudent management. This is A.M. Best's highest ranking, earned only by approximately 1.5% of rated insurers.

Additionally, NJM Bank provides an array of financial services while operating with the same Stewardship, Integrity and Service of the NJM Insurance Group.

The federally-chartered bank is open to the general public.