NJM Insurance Group explained

NJM Insurance Group
Former Name:New Jersey Manufacturers Casualty Insurance Company
Type:Mutual
Num Locations:3 offices (West Trenton, Hammonton, Parsippany)
Key People:Mitchell A. Livingston President & Chief Executive Officer
Carol L. Voorhees Senior Vice President & Chief Information Officer
Kate Ro Senior Vice President & General Counsel
Chris Malone Senior Vice President & Chief Financial Officer
Industry:Insurance
Net Income:$145,724,508
Net Income Year:2019
Assets:$7,895,572,164
Assets Year:2019
Num Employees:~2,500
Location:West Trenton, New Jersey, United States

NJM Insurance Group is an American mutual insurance group of companies, offering personal auto, commercial auto, workers' compensation, homeowners, condo, renters, and umbrella insurance. It is headquartered in the West Trenton section of Ewing Township, New Jersey, and serves markets in Connecticut, Delaware, Maryland, New Jersey, New York, Ohio, and Pennsylvania.[1]

History

NJM Insurance Group, originally known as New Jersey Manufacturers Casualty Insurance Company, formed as a workers’ compensation insurance company on June 7, 1913, two years after New Jersey passed the Workmen's Compensation Act[2] which required all employers to carry insurance coverage for injured workers.[3] The company's original goal was to provide cost-effective, safety-conscious, and financially secure insurance to New Jersey business owners. By 1922, the company was the largest provider of workers’ compensation insurance in New Jersey.[4]

In 1921, NJM began providing insurance for property loss, commercial auto accidents, private automobiles, and homes.[5]

On January 1, 1965, the New Jersey Manufacturers Indemnity Insurance Company (founded as the New Jersey Manufacturers Fire Insurance Company on December 6, 1921) merged into the New Jersey Manufacturers Casualty Insurance Company to form the current legal entity. The merger had been announced on April 24 of the prior year, with approval being granted by the Commissioner of Insurance on October 28.[6]

NJM's main office has been in West Trenton since 1966. Personal Lines and Commercial Lines Underwriting, General Claims and Medical Services Administration are headquartered there, as are most support services for company operations. NJM has had additional offices in northern New Jersey since the 1950s, but the company's main North Jersey branch has been consolidated in Parsippany since 1996. The southern New Jersey branch opened in Hammonton in 2000.[7]

In 2015, American soccer player and long-time NJM policyholder Carli Lloyd was announced as the company's spokesperson.[8] This partnership ended after Lloyd's retirement in 2021.[9]

In 2018, NJM expanded its services to Pennsylvania residents.[10]

In 2019, services were expanded into Connecticut, with Ohio, Delaware, and Maryland following in 2021.[11] [12]

Products and services

Personal insurance

NJM provides auto, homeowners, renters, condo, and umbrella insurance to residents of New Jersey, Pennsylvania, Connecticut, Ohio, and Maryland.[13] NJM partners with American Modern Insurance Group to offer coverage for motorcycles, ATVs, boats, and collector cars.[14] [15]

Commercial insurance

The company originally formed to provide workers' compensation insurance to businesses in New Jersey.

As of 2024, it writes workers’ compensation coverage in Connecticut, Delaware, Maryland, New Jersey, New York, and Pennsylvania. The company has also provided New Jersey businesses with commercial auto insurance and commercial general liability insurance (CGL).

Consumer safety

NJM runs several Teen Driver Safety Programs, which bring safety programming and education to New Jersey schools.[16] In 2013, NJM commemorated its centennial with a "DNT TXT N DRV" (Don't Text and Drive) campaign.[17] The company donated $50,000 to charity at the conclusion of the campaign,[18] which marked the start of NJM's Teen Driver Safety Programs.

Since 2013, NJM has donated more than 60 driving simulators to New Jersey and Pennsylvania high schools to support safe driving.[19]

Partnerships and sponsorships

Trenton Thunder

NJM partners with the Trenton Thunder for their "Safe at Home" Program. The program designates $50 per run scored at Thunder home games through the season and playoffs to a local charity organization.[20] Since 2012, this partnership has resulted in donations of more than $140,600.[21] [22]

Philadelphia 76ers

Since 2018, NJM has partnered with the Philadelphia 76ers to promote teen driving safety in Pennsylvania. In 2018 and 2019, the Sixers and NJM hosted a National Teen Driver Safety Week kick-off event at the Wells Fargo Center in Philadelphia.[23] [24]

Philadelphia Union

In 2019, NJM became the Official Automotive Insurance Partner of the Philadelphia Union.[25]

Recognition and awards

Notes and References

  1. News: 2020-07-22. New Jersey's BCA Insurance Group Partners with NJM Insurance Group. 2021-04-22. Insurance Journal. 2021-04-22. https://web.archive.org/web/20210422183254/https://www.insurancejournal.com/news/east/2020/07/22/576465.htm. live.
  2. Web site: NJM: A Garden State Legacy. en-US. 2020-01-15. 2020-01-15. https://web.archive.org/web/20200115180318/https://meadowlandsmedia.com/2017/02/01/njm-a-garden-state-legacy/. live.
  3. Web site: NJ Workers' Compensation Guide . 2024-06-28 . www.scura.com . es.
  4. Web site: New Jersey Manufacturers Insurance Company in Ewing celebrates its centennial. Times. The. 2013-03-31. nj. en. 2020-01-15. 2020-01-15. https://web.archive.org/web/20200115180923/https://www.nj.com/mercer/2013/03/new_jersey_manufacturers_insur_1.html. live.
  5. Web site: About NJM. https://web.archive.org/web/20200115192005/https://www.njm.com/about. 2020-01-15. live.
  6. REPORT ON EXAMINATION AS TO THE CONDITION OF NEW JERSEY MANUFACTURERS INSURANCE COMPANY, TOWNSHIP OF EWING, NEW JERSEY 08628, AS OF DECEMBER 31, 2019, NAIC GROUP CODE 0708, NAIC COMPANY CODE 12122. December 31, 2020. January 5, 2021. January 6, 2022. https://web.archive.org/web/20220106145534/https://www.nj.gov/dobi/division_insurance/solvency/finexamrpt12122njm2019.pdf. live.
  7. Web site: NJM Insurance - NJM History. Njm.com. 2016-06-26. 2016-06-25. https://web.archive.org/web/20160625150438/http://www.njm.com/Information/NJMHistory.asp. live.
  8. News: World Cup star Carli Lloyd is newest face of NJM Insurance. NJ.com. 2018-08-23. en-US. 2018-08-23. https://web.archive.org/web/20180823174527/https://www.nj.com/mercer/index.ssf/2015/11/world_cup_star_carli_lloyd_is_newest_face_of_njm_i.html. live.
  9. Web site: Yanchulis . Kate . 2022-11-24 . USWNT's Carli Lloyd finally can 'soak in every moment' after retirement . 2024-05-22 . Just Women's Sports . en . 2024-05-22 . https://web.archive.org/web/20240522154344/https://justwomenssports.com/reads/uswnt-nwsl-carli-lloyd-retirement-equal-pay/ . live .
  10. Web site: NJ insurer stretches into Pa. market.
  11. Web site: NJM Insurance Expanding to Ohio . 2024-05-29 . New Jersey Business Magazine . en-US . 2022-06-29 . https://web.archive.org/web/20220629120759/https://njbmagazine.com/njb-news-now/njm-insurance-expanding-to-ohio/ . live .
  12. Web site: Bergeron . Tom . 2021-09-08 . NJM expands coverage into Delaware, Maryland . 2024-05-29 . ROI-NJ . en-US . 2023-12-08 . https://web.archive.org/web/20231208202013/https://www.roi-nj.com/2021/09/08/finance/njm-expands-coverage-into-delaware-maryland/ . live .
  13. Web site: NJM expands coverage into Delaware, Maryland . 8 September 2021 . 9 March 2022 . 23 May 2022 . https://web.archive.org/web/20220523154444/https://www.roi-nj.com/2021/09/08/finance/njm-expands-coverage-into-delaware-maryland/ . live .
  14. Web site: NJ staff. ROI. 2021-01-05. NJM adds 4th state (Ohio) to its coverage area. 2021-04-22. ROI NJ. en-US. 2021-04-22. https://web.archive.org/web/20210422182635/https://www.roi-nj.com/2021/01/05/finance/njm-adds-4th-state-ohio-to-its-coverage-area/. live.
  15. Web site: NJM - NJM Expands Partnership to Offer Enhanced Collector Car Insurance. NJM. 2020-01-15. 2020-01-15. https://web.archive.org/web/20200115180350/https://www.njm.com/about/media-center/news-releases/njm-expands-partnership-to-offer-enhanced-collector-car-insurance. live.
  16. Web site: NJM Hires Callahan to Expand Teen Driver Safety Program in Pennsylvania. 2018-10-24. Insurance Journal. en-US. 2020-01-15. 2020-01-15. https://web.archive.org/web/20200115180736/https://www.insurancejournal.com/news/east/2018/10/24/505510.htm. live.
  17. Web site: For Safety's Sake, DNT TXT N DRV. www.mydigitalpublication.com. en-US. 2020-01-15.
  18. Web site: NJM donates $50,000 to charity from DNT TXT initiative. 2014-02-27. NJTV News. en-US. 2020-01-15. 2020-01-15. https://web.archive.org/web/20200115180336/https://www.njtvonline.org/news/uncategorized/njm-donates-50000-to-charity-from-dnt-txt-initiative/. live.
  19. Web site: ELFNJ: National Teen Driving Safety Leadership Award Presented to NJM. 2016-12-09. New Jersey School Boards Association. en. 2020-01-15. 2020-01-15. https://web.archive.org/web/20200115180753/https://www.njsba.org/news-publications/school-leader/november-december-2016-vol-47-no-3/elfnj-national-teen-driving-safety-leadership-award-presented-njm/. live.
  20. Web site: NJM to Donate $50 to Trenton Area Soup Kitchen (TASK) for Every Trenton Thunder Run Scored - Trenton Area Soup Kitchen. www.trentonsoupkitchen.org. 2020-01-15. 2020-01-15. https://web.archive.org/web/20200115200208/http://www.trentonsoupkitchen.org/news/5.7.14.php. live.
  21. Web site: NJM and the Trenton Thunder - The Capital City's All-Star Team. MiLB.com. en. 2020-01-15. 2020-01-15. https://web.archive.org/web/20200115200259/https://www.milb.com/trenton/news/njm-and-the-trenton-thunder---the-capital-citys-all-star-team/c-260963578. live.
  22. Web site: Thunder and NJM Insurance Group Raise Money for Safe at Home Program . 2024-05-29 . MiLB.com . en.
  23. Web site: Sixers take part in National Teen Driver Safety Week. 2019-10-22. 6abc Philadelphia. en. 2020-01-15. 2020-01-15. https://web.archive.org/web/20200115194544/https://6abc.com/5636022/. live.
  24. News: NJM partnering with Sixers to bring 'Share the Keys' program to Pa.. 2018-10-23. ROI-NJ. en-US. 2020-01-15. 2020-01-15. https://web.archive.org/web/20200115195945/https://www.roi-nj.com/2018/10/23/finance/njm-partnering-with-sixers-to-bring-share-the-keys-program-to-pa/. live.
  25. Web site: Philadelphia Union Announce New Partnership with NJM Insurance Group. 2019-06-05. OurSports Central. en. 2020-01-15. 2020-01-15. https://web.archive.org/web/20200115200213/https://www.oursportscentral.com/services/releases/philadelphia-union-announce-new-partnership-with-njm-insurance-group/n-5497243. live.
  26. Web site: Company Profile - Best's Credit Rating Center. ratings.ambest.com. 2020-01-15.
  27. Gorskt, Dennts. "Standing the Test of Time," Best's Review, July 2010.
  28. Web site: 2011-05-24. 2010 Auto Insurance Consumer Information Report. live. https://web.archive.org/web/20110524013327/http://www.state.nj.us/dobi/division_consumers/pdf/complaintranking10.pdf. 2011-05-24. 2020-01-15. New Jersey Department of Banking and Insurance.
  29. Web site: 2013-09-28. 2012 Auto Insurance Consumer Information Report. live. https://web.archive.org/web/20130928001816/http://www.state.nj.us/dobi/division_consumers/pdf/complaintranking12.pdf. 2013-09-28. 2020-01-15. New Jersey Department of Banking and Insurance.
  30. Web site: 2014-11-14. 2013 Auto Insurance Consumer Information Report. live. https://web.archive.org/web/20141114044007/http://www.state.nj.us/dobi/division_consumers/pdf/autoconsumerrpt13.pdf. 2014-11-14. 2020-01-15. New Jersey Department of Banking and Insurance.
  31. Web site: NJDOBI Consumer Information - Automobile Insurance. www.state.nj.us. 2020-01-15. 2020-01-15. https://web.archive.org/web/20200115194544/https://www.state.nj.us/dobi/division_consumers/insurance/auto.htm. live.
  32. Web site: J.D. Power Introduces Insurance Claims Certification Program J.D. POWER. www.jdpower.com. 2020-01-15. 2020-01-15. https://web.archive.org/web/20200115200041/https://www.jdpower.com/business/press-releases/jd-power-introduces-insurance-claims-certification-program. live.
  33. Web site: 2019 U.S. Auto Insurance Study: 10116ENG J.D. POWER. www.jdpower.com. 2020-01-15. 2020-01-15. https://web.archive.org/web/20200115194547/https://www.jdpower.com/business/ratings/study/U.S.-Auto-Insurance-Study/10116ENG/Mid-Atlantic/3513. live.
  34. Web site: America's Best Employers By State. Forbes. en. 2020-01-15. 2020-02-10. https://web.archive.org/web/20200210062755/https://www.forbes.com/best-employers-by-state/. live.
  35. Web site: America's Best Midsize Employers. Forbes. en. 2020-01-15. 2020-01-04. https://web.archive.org/web/20200104233540/https://www.forbes.com/lists/best-midsize-employers/. live.
  36. Web site: NJM Insurance: Rates, Discounts & Consumer Ratings. 2020-01-06. Clearsurance. en-us. 2020-01-15. https://web.archive.org/web/20200115200213/https://clearsurance.com/insurance-company/njm-insurance-group-5835ece073b103329e91ac03. live.
  37. Web site: NJM wins national award for improving teen driver safety. NJ.com. Cristina Rojas For. 2016-10-15. nj. en. 2020-01-15. 2020-01-16. https://web.archive.org/web/20200116014217/https://www.nj.com/mercer/2016/10/njm_wins_national_award_for_improving_teen_driver.html. live.
  38. News: Corporate Social Responsibility Awards 2019 Winners - PR Daily. PR Daily. 2020-01-15. en-US. 2020-01-15. https://web.archive.org/web/20200115200203/https://www.prdaily.com/awards/corporate-social-responsibility-awards/2019/winners/. live.
  39. Web site: Top auto insurance companies to start 2022 .

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