For NJM Insurance Co. CEO and President Bernie Flynn, the basic business model is simple: Make your customers your top priority.
That idea is one of the reasons why NJM is sending special dividend payments to its approximately 440,000 personal auto insurance policyholders.
The dividend checks will average $118, the company said. This year will be the 23rd consecutive year the company has sent out such checks, which differ from traditional dividends.
“We’re once again thrilled to be sending special dividend checks to our policyholders, which we’ve now done annually for almost two-and-a-half decades,” Flynn said.
“As a company whose founding and enduring mission is to serve policyholders, not stockholders, dividends continue to be an important part of the NJM value proposition.”
The special dividends equal 6 percent of premiums paid on policies written in 2015, the company said, and are provided in addition to regular dividends which are automatically applied as a credit at the time of policy renewal.
NJM, which writes workers’ compensation, commercial auto, homeowners and umbrella insurance, is based in West Trenton. It has branch offices in Parsippany and Hammonton.