New Jersey Manufacturers Insurance Group (NJM) is once again returning premiums to policyholders through the NJM Policyholder Relief Program. In the coming weeks, NJM will return an additional $27.7 million to its auto policyholders, representing 15% of the equivalent of two months of a policyholder’s annual premium. Policyholders will receive their refunds, via check or direct deposit.
NJM is one of the foremost property casualty insurers in the Mid-Atlantic Region. Founded in 1913, NJM offers auto, workers’ compensation, renters, homeowners and umbrella coverage to those in Connecticut, New Jersey and Pennsylvania. Headquartered in West Trenton (New Jersey), NJM employs about 2,500 workers and operates in a mutual fashion for the exclusive benefit of its customers.
“Even as states reopen, we continue to see the effects of the pandemic on our customers’ lives,” said Mitch Livingston, NJM President and CEO. “The NJM Policyholder Relief Program considers our policyholders’ reduced driving as they do their part to keep their family, friends, and communities safe.”
This latest refund expands upon the $41.7 million the Company returned in April, which was based on three months of premium. As coronavirus-related conditions continue to restrict activity across the region, many NJM policyholders continue to limit their driving. In recognition of this, the extended program will now provide a total of five months of relief.
“For the past 107 years, NJM has operated as a mutual with the commitment to serving our policyholders,” said Livingston. “The NJM Policyholder Relief Program supports our mission of maintaining the highest levels of service, integrity, and financial stewardship, especially during times of greatest need.”
NJM is also taking steps to assist policyholders in need by using maximum flexibility and creating special payment plans. More information is available at njm.com/covid.