NJM Insurance Group Returns $1.9 Million to Commercial Auto PolicyholdersOctober 26, 2020
Refund Acknowledges Effect of COVID-19 Pandemic on Business Vehicle Usage
WEST TRENTON, NJ — NJM Insurance Group, a leading property and casualty insurer in the Mid-Atlantic region, is refunding a portion of premiums to policyholders through the NJM Policyholder Relief Program. Commercial auto customers will receive the equivalent of 15% of two months of their annual insurance premium, in recognition of reduced driving related to the pandemic.
In NJM's latest effort to assist policyholders impacted by the pandemic, the Company will mail refund checks to approximately 9,900 commercial auto policyholders, totaling $1.9 million in returned premium. Over the past several months, the Company has worked with its business insurance customers to implement payment plans and policy modifications for those affected by COVID-19.
"NJM operates in a mutual fashion, so this relief aligns with one of our core values — operating for the exclusive benefit of our policyholders," said Mitch Livingston, NJM president and CEO. "Our commitment to policyholders has set NJM apart for over a century, and it is especially important in this new economic reality."
"This refund recognizes the unprecedented challenges many of our policyholders have faced this year, including reductions in business operations," said Arjay Pedalino, NJM vice president of commercial lines. "While the country rebuilds and recovers, rest assured that NJM will continue working on behalf of its policyholders."
The NJM Policyholder Relief Program was created to help provide premium assistance for NJM policyholders affected by the COVID-19 pandemic. In May and July, the NJM Policyholder Relief Program refunded a total of $69.4 million to personal auto policyholders. More information on how NJM is responding to the coronavirus is available at njm.com/covid.
About NJM Insurance Group
NJM is among the Mid-Atlantic's leading property and casualty insurers. Founded in 1913, NJM's mission is to provide value-based insurance solutions to its policyholders with the highest levels of service, integrity, and financial stewardship. The Company operates in a mutual fashion for the exclusive benefit of its policyholders. Headquartered in West Trenton, NJ, NJM employs nearly 2,500 workers. For more, visit njm.com.