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
NJM has offices in Hammonton, Parsippany, and West Trenton
(headquarters), New Jersey.
NJM is the state's leading auto insurer (by number of
vehicles covered) and workers' comp insurance provider. Personal
auto premiums account for more than half of the
company's written premiums, while workers' compensation
premiums account for about 30%. 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.
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 25% of premiums on workers' compensation
policies down to an average of 5% of premiums on personal auto
In 2012 NJM implemented new Guidewire IT systems for its policy
administration, underwriting, and billion functions. The company
also implemented Guidewire's client data management system to
provide comprehensive customer data.
The company was founded as New Jersey Manufacturers Casualty
Insurance in 1913.
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