Website: njm.com
Phone Number: 609-883-1300
Address: 301 Sullivan Way, West Trenton, NJ 08628-0118
History of New Jersey Re-Insurance Company
The industrial revolution in the state of New-Jersey was the reason that planted the seed of Insurance coverage. With the immigrants from Europe and American farmers, the population and the working population increased calls for new safety norms and work safety activities. With this the workmen’s compensation system was set and the employers were asked to provide workers medical care and wage replacement in such conditions. This brought financial burden on the owners and a New insurance carrier was recommended, emphasizing on safety and providing benefits to the shareholders. The stock and the capital were kept in a trust for the mutual advantage of policyholders and keeping the personal benefits away from interfering with the policy holder’s interest.
Incorporation of the New Jersey Re-Insurance Company
The New Jersey Manufacturers Casualty Insurance Company was incorporated in the year 1913 and began its operations in two small rented rooms in American Mechanics Building. It has seen growth ever since and the company grew when the Unites States of America entered World War I. The company expanded, and in the year 1917 they revised the laws to share the profits with the policy holders in the form of premium. In the year 1918, 20% dividend was declared and the process continued. The company grew and with the second world war the need and the companies started to seek insurance support from the them. The company has a dedicated team that workers who find fraud claims to save money from fake claims. The company currently enjoys the highest rating with the A.M. Best Company the preeminent insurance rating agency. It is known to have the financial strength and demonstrates strength to serve the policy holders.
Policies offered by New Jersey Re-Insurance Company
The New Jersey Re-Insurance Company offers policy claims for personal Auto insurance, Homeowners, Workers Compensation, Commercial Auto and Flood. The insurance holders can claim any loss with the organization’s representatives that work 24/7 to ensure that the policy holders get immediate attention. The company is available online that ensures that there is no delay in any claims process. The policy payments, claims, queries can all be answered by these online portal that is quick and quite effective.
Special Flood Coverage
The National Flood Insurance Act of 1968 was the reason the National Flood Insurance Program was established. Flood coverage in not a part of the home Insurance claims and thus a separate insurance is needed. The coverage goes up to $250,000 for single families and the contents coverage limits are up to $ 100,000. There are suitable claims that are provided to those who ensures that the items are moved to a safer location in case of flood which promotes safety activities and reduces losses.
