|
New Jersey Manufacturers Insurance Company
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, Mercer County, New Jersey, and serves markets in Connecticut, Delaware, Maryland, New Jersey, New York, Ohio, and Pennsylvania. History NJM Insurance Group, originally known as New Jersey Manufacturers Casualty Insurance Company, formed as a workers’ compensation insurance company on June 7, 1913, shortly after New Jersey passed the Workmen’s Compensation Act. 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. In 1921, NJM began providing insurance for property loss, commercial auto accidents, private automobiles, and homes. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mutual Insurance
A mutual insurance company is an insurance company owned entirely by its policyholders. Any profits earned by a mutual insurance company are either retained within the company or rebated to policyholders in the form of dividend distributions or reduced future premiums. In contrast, a stock insurance company is owned by investors who have purchased company stock; any profits generated by a stock insurance company are distributed to the investors without necessarily benefiting the policyholders. History The concept of mutual insurance originated in England in the late 17th century to cover losses due to fire. The mutual/casualty insurance industry began in the United States in 1752 when Benjamin Franklin established the Philadelphia Contributionship for the Insurance of Houses From Loss by Fire. Mutual property/casualty insurance companies exist now in nearly every country around the globe. The global trade association for the industry, the International Cooperative and Mutual Ins ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |