NJM News

April 21, 2009

Contact: Patrick W. Breslin, 609-883-1300, ext. 7070

Recession is No Reason To Reduce Workplace Safety Efforts

CEO of New Jersey's largest workers' compensation insurer addresses Safety Expo

ATLANTIC CITY, NJ — Bernard M. Flynn, President and CEO of New Jersey Manufacturers Insurance Group, will address the need for continued safety initiatives in the workplace despite a down economy during his keynote address at noon April 22, at the 25th Annual Mid-Atlantic Region Safety, Health and Wellness Expo 2009 at Trump Plaza Hotel and Casino, Atlantic City.

Mr. Flynn will address the financial benefits of maintaining safe business operations, primarily regarding how fewer workplace injuries translates directly into lower costs for Workers' Compensation insurance. Conversely, increased premiums caused by poor experience remains with an employer for at least three years, dragging down an employer's bottom line even after economic conditions improve. Other costs of inadequate safety practices, such as lack of employee well-being and damage to a company's reputation, also will be covered.

As New Jersey's largest provider of Workers' Compensation insurance in New Jersey, NJM brings a unique perspective to this discussion. NJM was founded in 1913 by a group of business owners who appreciated the value of conducting safe operations and sought to be rewarded for their vigilance. NJM still exists today as a high-value, safety-oriented insurer. That is why the benefit of financial operations has been returned to policyholders as dividends every year since 1918, now totaling more than $4.7 billion.

NJM Insurance Group wrote 24.5% of the Workers' Compensation business in New Jersey, almost twice as much as the No. 2 carrier, in 2007, the most recent statistics available. NJM also is the leading insurer of Personal Autos in New Jersey, as well as fulfilling a significant role in the Commercial Auto and Homeowners market. NJM Bank offers deposit and loan accounts for individual and commercial customers. The NJM Insurance Group has 2,400 insurance, banking and support employees working at its Main Office in West Trenton, North Jersey Office in Parsippany and South Jersey Office in Hammonton.

Mr. Flynn, 48, of Delran, N.J., has served as NJM's President and CEO since April 2008. He joined NJM as a staff attorney in 1993. He later served in various capacities before being elected Vice President and General Counsel in 2001, and then Senior Vice President and General Counsel in 2004.