NJM Insurance Group, a leading auto insurer in the Mid-Atlantic region, is returning $41.7 million to policyholders as part of the NJM Policyholder Relief Program. The program will refund 15% of the equivalent of three months of annual premium payments to the company’s personal auto insurance policyholders.
For more than 100 years, the company has operated as a mutual for the exclusive benefit of policyholders. The NJM Policyholder Relief Program is a natural extension of this commitment, and it recognizes that coronavirus-related shelter-in-place restrictions have reduced driving across the region.
“The NJM Policyholder Relief Program helps ensure that the premiums paid by our policyholders recognize the changes they have been required to make in their daily lives,” said Mitch Livingston, NJM president and CEO.
Policyholders can expect to receive their refunds, via check or direct deposit, in the coming weeks. The 15% refund is calculated based on an annual premium as of April 1.
NJM is taking additional steps to assist policyholders, including extended premium payment deadlines and providing special payment options. More information is available at njm.com/covid.
“The coronavirus pandemic is an evolving public health issue and a matter of great concern for NJM and its policyholders,” said Livingston. “Our commitment to serving their needs remains our biggest priority, and we will continue to stand by them during this challenging time.”
To access more business news, visit NJB News Now.Related Articles: