New Jersey Manufacturers Insurance Company said it would pay aspecial dividend of approximately $132 million to more than 405,000policyholders.
|West Trenton, N.J.-based NJM said this marks the 14thconsecutive year the company has sent policyholders dividendchecks, and the largest special dividend the company has ever paidin its 94-year history.
|On average, policyholders will receive checks of about $327each, which will be mailed from Nov. 19 through Dec. 12.
|The company also announced that the regular dividend forworkers' compensation policies was increased from 10 percent to 15percent.
|The company said it covers about 6,800 businesses, or roughly18.8 percent of the voluntary market in 2006 in New Jersey.
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