Garden State Municipal Joint Insurance Fund

Name

Garden State Municipal Joint Insurance Fund

Legal name

Garden State Municipal Joint Insurance Fund

Website

https://gsmjif.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Municipal Insurance Pooling

NAICS

Direct Property and Casualty Insurance Carriers (524126)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Public Liability (Premises/Operations) (FSAJADAD)

akta.pro secondary industries

Pollution / Environmental Liability (FSAJADAI), Environmental / Pollution Liability (FSAJAGAF)

Keywords

• Municipal insurance pool
• Public entity coverage
• Self-insurance fund
• Risk management services
• Claims administration

Headquarters

HQ city

Iselin

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Member Municipality Premium Contributions: The fund generates revenue through contributions and premiums paid by member municipalities. As a joint insurance fund, member towns pool resources to self-insure against various risks including workers' compensation, auto liability, property, and general liability. Member municipalities pay into the fund based on their risk profiles and coverage needs.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Garden State Municipal Joint Insurance Fund is a joint insurance fund that pools risk among New Jersey municipalities by providing self-insured coverage, risk management, and claims administration across multiple coverage lines (workers' compensation, auto/general/property/cyber/pollution/storage tank/marina/non-owned aircraft liability), with workers' comp administered by Qual-Lynx and general claims administered by NIP Management Services under the oversight of NIP Group, Inc. The fund targets municipalities in New Jersey, covers 1,000,000+ residents, and augments its core coverage with dedicated risk-management programs and a 2021-launched Body Camera Video Management Program.

Product overview

Garden State Municipal Joint Insurance Fund is one of New Jersey's largest standalone joint insurance funds, providing a comprehensive self-insurance pool for municipalities covering over 1,000,000 residents. The core offering is the joint insurance fund itself, which provides workers' compensation, auto, liability, property, and pollution liability coverage. The fund operates through web-based Member Underwriting and Certificate portals, with claims administration split between Qual-Lynx for workers' compensation and NIP Management Services for other lines. Ancillary coverage options include cyber liability, storage tank liability (via ACE TankSafe), marina liability, non-owned aircraft liability, and public entity pollution liability. The fund also provides risk management services including a body camera video management pilot program for police departments.

Differentiator

Problem solved

Functional benefit

Products and services

• Workers' Compensation Coverage and Claims Administration Self-insured workers' compensation coverage for member municipalities, with claims administered by Qual-Lynx as third-party administrator. Target customers are New Jersey municipal employers joining the JIF.
• General and Auto Liability Coverage and Claims Administration Self-insured general liability and auto liability coverage for member municipalities, with claims administered by NIP Management Services (general claims), with PMA Management Corp as additional TPA support.
• Property Coverage Self-insured property insurance coverage underwritten for member municipalities of the JIF, covering municipal property exposures.
• Cyber Liability Coverage Self-insured cyber liability coverage for member municipalities, addressing IT and data-breach exposures facing local governments.
• Pollution Liability Coverage Self-insured pollution liability coverage underwritten for member municipalities, addressing environmental exposure at the local-government level.
• Storage Tank Liability Coverage Self-insured storage tank liability coverage underwritten for member municipalities that own or operate underground or above-ground storage tanks.
• Marina Liability Coverage Self-insured marina liability coverage underwritten for member municipalities operating public marinas or waterfront facilities.
• Non-Owned Aircraft Liability Coverage Self-insured non-owned aircraft liability coverage underwritten for member municipalities needing protection for aircraft they do not own but use or charter.
• Risk Management Services Dedicated risk-management services supporting member municipalities in loss control, exposure assessment, and safety programming tied to the JIF's coverage lines.
• Body Camera Video Management Program Structured program to help member police departments manage, store, and govern body-worn camera video evidence launched by GSMJIF in 2021.

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and minor.

• NIP Group, Inc.coreImplementation/ SI/ Consulting PartnerNIP Group provides management and oversight of the Fund's third-party administrators (TPAs), ensuring adherence with claims reserving and litigation management best practices. The copyright notice indicates NIP Group, Inc. manages the website and operations of GSMJIF.
• Qual-LynxcoreImplementation/ SI/ Consulting PartnerQual-Lynx provides Claims Administration for Workers' Compensation claims for GSMJIF members. They offer claims reporting through their online portal.
• PMA GroupcoreImplementation/ SI/ Consulting PartnerPMA Group serves as the third-party claims administrator for GSMJIF, handling claims administration services for members.
• NIP Management ServicescoreImplementation/ SI/ Consulting PartnerNIP Management Services provides Management and Oversight of the Fund's TPAs, ensuring adherence with claims reserving and litigation management best practices, as well as day-to-day Claims Administration for Non-Workers' Compensation claims.
• Capehart Scatchard P.A.minorImplementation/ SI/ Consulting PartnerLaw firm that provides legal analysis and guidance on workers' compensation matters affecting municipalities, including articles on the Canzanella Law, Essential Employees Law, and COVID-19 workers' compensation claims defense.
• PRIMA (Public Risk Management Association)minorOthersProfessional risk management association providing resources and networking for public entity risk managers.
• NJ League of MunicipalitiesminorOthersState association providing resources and advocacy for New Jersey municipalities, linked as a resource for current and prospective clients.
• Public Entity Risk InstituteminorOthersProvides risk management resources specifically for public entities.
• AGRIP (Association of Governmental Risk Pools)minorOthersAssociation focused on governmental risk pools, providing networking and best practices for member JIFs.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• New Jersey Municipal Excess Liability Joint Insurance Fund (MEL): The NJ MEL is a joint insurance fund providing excess liability coverage to NJ municipal JIFs including GSMJIF. It is the most direct comparable entity — a state-chartered municipal risk pool operating in the same geography and serving the same underlying customer base.
• New Jersey Utility Authorities Joint Insurance Fund: A NJ JIF pooling coverage for utility authorities — adjacent public-entity segment with the same state regulatory framework and similar pooling mechanics, making it a structural peer even though customer type differs slightly.
• Camden County Municipal Joint Insurance Fund: Another NJ county-based municipal JIF offering workers' compensation, auto, property, and liability pooling to Camden County towns. Operates under the same NJ regulatory framework as GSMJIF and competes for the same members.
• Suburban Municipal Joint Insurance Fund: A NJ-based joint insurance fund pooling property and casualty coverage for suburban municipalities. Directly comparable as another stand-alone municipal JIF in New Jersey competing for the same member municipalities.
• Atlantic County Municipal Joint Insurance Fund: A NJ county-based JIF providing pooled insurance coverage to Atlantic County municipalities. Comparable structure, coverage lines, and member type, and competes for adjacent municipal members within NJ.
• Burlington County Municipal Joint Insurance Fund: A county-based NJ municipal JIF providing workers' compensation and liability coverage to member towns in Burlington County. Directly comparable structure, geography, and product set.

Broad incumbents

• The Hartford (Public Sector / Municipal Practice): A broad-line insurer with a public entity practice underwriting municipal property and liability coverage. Competes with GSMJIF on traditional lines and represents the incumbent alternative to pooling.
• Travelers (Public Sector Practice): A national property and casualty carrier with a dedicated public-sector / municipal practice that competes with JIFs for larger municipal accounts. Comparable product set (property, auto, liability, workers' comp) at broader scale.

Regional players

• Statewide Insurance Fund: A NJ-based insurance pool historically focused on workers' compensation coverage for public entities. Comparable as a NJ-domiciled governmental risk pool, though historically narrower in product scope than GSMJIF.
• Michigan Municipal Risk Management Authority: A statewide municipal risk pool in Michigan providing pooled property, liability, and workers' compensation to local governments. Highly comparable operating model to GSMJIF but serving a different geography.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/gsmjif
• LinkedInlinkedin.com/company/283555

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Garden State Municipal Joint Insurance Fund