njcrib Hartford-New Jersey Indemnity Co. is one of the oldest and largest property insurance companies in the United States. And, as such, they have a lot of experience with risk management. In addition to their insurance work, Hartford-New Jersey has been a long-standing partner with NJCRIB, the National Council for Risk Management Education.
Through this partnership, Hartford-New Jersey is now providing training and resources to NJCRIB members throughout the state of New Jersey. This new key partnership between Hartford-New Jersey and NJCRIB will help ensure that NJCRIB members are well-equipped to manage risk and protect their businesses.
Highlights of the Partnership
Hartford-New Jersey Indemnity Co. and NAMIC have been chosen to join the New Jersey Coalition for Risk Sharing (NJCRS). NJCRS is a not-for-profit entity that assists organizations in developing risk-sharing arrangements. The purpose of NJCRS is to promote the use of risk sharing among participating states in order to improve state preparedness and response capabilities during emergencies.
Hartford-New Jersey Indemnity Co. and NAMIC will work together to develop proposals on how risk sharing can be implemented between states. This includes identifying potential areas where shared resources could be utilized, developing protocols for how those resources would be shared, and creating a process for monitoring and enforcing the agreements.
This partnership is important because it establishes Hartford-New Jersey Indemnity Co. as a leader in risk sharing within the state of New Jersey and positions NAMIC as an influential cooperative partner with a wealth of experience in this area. It will also help NJCRS develop considerable expertise in risk sharing while providing a valuable resource to participating states
Benefits to Hartford-New Jersey Indemnity Co. and NAMIC
Hartford-New Jersey Indemnity Co. and NAMIC have been chosen as the lead insurers for the New Jersey Credit Risk Information Bureau (NJCRIB), a new joint venture created by the state of New Jersey and the federal government to improve risk management across all sectors of the economy in New Jersey.
NAMIC will provide data analytics and market intelligence to help policymakers make informed decisions about how best to protect consumers and businesses, while Hartford-New Jersey will offer liability insurance products to businesses operating in the state. The NJCRIB will use this information to identify risks and vulnerabilities across sectors and make recommendations for risk mitigation.
“The NJCRIB is a critical initiative that will help us better understand consumer behavior, economic conditions, and business operations across New Jersey,” said Governor Phil Murphy. “Through our partnership with Hartford-New Jersey Indemnity Co., we are confident that we can provide innovative products and services that protect both consumers and business.”
The NJCRIB was announced as part of President Trump’s $1 trillion infrastructure package, which includes investments in building safe, reliable, and efficient roads, bridges, airports, digital infrastructure, rail systems, ports, waterways, schools, hospitals, waste facilities and more. The NJCRIB is expected to create tens of thousands of jobs throughout the state while improving risk management for all stakeholders.
“Collaborating with other states on such an important project is pivotal to ensuring
Hartford-New Jersey Indemnity Co. and NAMIC Chosen for Key NJCRIB Partnership
Hartford-New Jersey Indemnity Co. (HNI) and the National Association of Insurance Commissioners (NAMIC) have been chosen as the lead organization for a key Partnership project. The NJCRIB Partnership is a statewide effort to improve insurance regulation in New Jersey.
The partnership will focus on four areas: consumer protection, market oversight, economic development, and public education. HNI and NAMIC will work together to develop model regulations that can be used by other states in similar situations.
“We are excited about this partnership with NAMIC,” said Gary Crawford, president of HNI. “Their experience and knowledge of insurance regulation will be invaluable in helping us develop model regulations that will improve the quality of insurance products and protect consumers.”
NAMIC is responsible for regulating approximately $2 trillion in assets across the country. The association offers its members resources to help them meet the challenges posed by complex markets and rapidly evolving technologies.
The Hartford-New Jersey Indemnity Company (HNJIC) and the North American Mutual Insurance Company (NAMIC) have been selected as the lead insurers for the New Jersey Corporate Risk Incentive Board (NJCRIB)
Since its inception in 1984, the NJCRIB has been responsible for administering and managing risk-related incentive programs for New Jersey businesses. In order to better serve the needs of its members, the NJCRIB has partnered with two leading insurance companies – Hartford-New Jersey Indemnity Company (HNJIC) and North American Mutual Insurance Company (NAMIC).
The NJCRIB is pleased to have HNJIC and NAMIC as lead insurers for the organization. Both companies have extensive experience in administering risk-related incentive programs and will be able to provide comprehensive services to member businesses.
The NJCRIB appreciates the partnership with HNJIC and NAMIC and looks forward to working together to improve the efficiency and effectiveness of risk-related incentive programs in New Jersey.
NJCRIB is a state-run program that offers risk mitigation solutions to businesses in New Jersey
NJCRIB is a state-run program that offers risk mitigation solutions to businesses in New Jersey. The program works with local insurance companies to provide discounts on insurance products and services. Recently, NJCRIB partnered with Hartford-New Jersey Indemnity Co. and NAMIC to provide risk mitigation solutions to businesses.
Hartford-New Jersey Indemnity Co. has been providing insurance products and services to businesses in the state for over 50 years. Their experience and expertise make them valuable partners for NJCRIB. Together, they will offer risk mitigation solutions to businesses in the state.
NAMIC is the largest mutual insurance company in New Jersey. They offer a wide range of products and services to business owners throughout the state. Their partnership with NJCRIB will help businesses mitigate their risks and protect themselves from accidents and events.
Hartford-New Jersey Indemnity Co. and NAMIC were recently chosen by NJCRIB as key partners in its life insurance program development efforts. NJCRIB is the state’s representative for life insurance education and consumer protection, and its partnership with Hartford-New Jersey Indemnity Co. will help to ensure that consumers have access to quality information about life insurance products. Together, they will work on developing educational materials for use by agents and brokers throughout New Jersey.