New Jersey Manufacturers Insurance Company (NJM) will sell you
insurance, if you're part of the right group. Its property/casualty
insurance products are available only to employees of the State of
New Jersey, or members of the New Jersey Business & Industry
Association and their employees. Its individual products include
automobile, homeowners, renters, umbrella, and flood insurance. Its
commercial products include commercial auto and workers'
compensation. Its NJM Bank subsidiary provides checking accounts
and savings accounts, as well as loans and investment products, to
individuals and businesses in the Garden State.
NJM is the state's leading auto insurer (by number of vehicles
covered, about 810,000) and workers' comp insurance provider and
the third-largest homeowners insurance provider. Personal auto
premiums account for most of the company's written premiums,
followed by workers' compensation premiums. NJM operates alongside
three sister firms: New Jersey Re-Insurance, New Jersey Casualty
Insurance, and New Jersey Indemnity Insurance. The four companies
operate together as the NJM Insurance Group.
To support its insurance customers, NJM provides underwriting,
claims, information technology, and administrative services.
NJM has offices in Hammonton, Parsippany, and West Trenton
(headquarters), New Jersey. Nearly all the company's business is in
New Jersey, though it does insure drivers in some parts of
Sales and Marketing
The company sells directly to consumers, with no agents and no
As a mutual company, the company returns dividends to its
policyholders ranging from 15% of premiums on workers' compensation
policies down to an average of 5% of premiums on personal auto
policies. It has returned more than $5.5 billion in dividends since
its founding in 1918.
The company was founded as New Jersey Manufacturers Casualty
Insurance in 1913.