Founded in 1913, NJM Insurance Group got its start providing workers’ compensation insurance to New Jerseyans. Today, the company provides a complete portfolio of coverage, including its brand-new offering: commercial package policies.
The West Trenton firm announced the addition May 18 and is launching the policies with effective dates beginning July 1. While the company offers various insurance coverage to individuals and businesses outside the Garden State — in Connecticut, Maryland, Ohio, Pennsylvania, Delaware and New York — the new policy is currently available only to New Jersey businesses.
“The product launch is the culmination of NJM’s multi-year strategic plan to meet all of the insurance needs of businesses throughout the Mid-Atlantic region,” Mitch Livingston, NJM president and CEO, said in a statement. “For over a century, NJM has been New Jersey’s premier workers’ compensation insurer with a reputation for providing superior service and value to policyholders. We are pleased to offer that same commitment to businesses in need of a commercial package policy throughout our region.”
The NJM ProPack Commercial Package Policy protects mid-size to large businesses and includes property coverage; liability coverage for construction, manufacturing and other industries; optional coverage for equipment breakdown, employment practices liability insurance, professional liability, contractors’ errors and omissions, and cyber insurance; and more.
ProPack policyholders who need additional coverage may apply for NJM’s commercial excess and umbrella insurance.
Arjay Pedalino, NJM’s vice president of commercial lines, added that the new policy is available only “for businesses in the region exclusively through our preferred network of distribution partners.”