NJIUA
NJIUA is the New Jersey state-mandated residual property insurance market (FAIR Plan), providing dwelling fire, commercial fire, and crime coverage to property owners unable to obtain coverage in the voluntary market, distributed via licensed producers and its FINYS policy administration platform.
- Company typePrivate
- Founded1968
- HeadquartersNewark, United States
- Headcount1–10
- GTM typeB2C
- OfferingServices
What NJIUA does
NJIUA (New Jersey Insurance Underwriting Association) is a state-chartered insurance association created by the New Jersey Legislature in 1968 under Chapter 129, Laws of New Jersey, operating as the state's sole property insurance residual market mechanism. The Association provides essential property insurance — primarily dwelling fire (DP1 Basic Form and DP2 Broad Form), commercial fire, crime coverage, and specialized endorsements including hurricane deductibles and limited fungi/rot/bacteria — to New Jersey residents and commercial property owners unable to obtain coverage from voluntary market insurers. NJIUA does not consider neighborhood, location, or environmental hazards beyond the property owner's control when determining insurability, in fulfillment of its statutory mission originating from the Kerner Commission's findings on urban insurance unavailability.
The organization distributes coverage through all NJ-licensed insurance producers (agents and brokers) via a secure online Producer Portal, with direct consumer application available through the public website. Its technology stack centers on the FINYS policy administration system — rolled out in 2026 — which handles online quoting, new business submissions, policy transactions, payments, and claims first notice of loss (FNOL). Supporting tools include the Quick Quote/Application Web Process for producers and integration with e2Value for insurance-to-value estimation on DP2 Broad Form policies. Rate filings are submitted to and approved by the New Jersey Department of Banking and Insurance, with most recent actions including a 5.7% increase effective June 2024 and a 4.1% increase effective May 2026.
Financially, NJIUA is funded through insurance premiums and assessments against its mandatory member companies — all voluntary admitted market insurers writing property insurance in New Jersey on a direct basis. A 21-member Board of Directors governs the Association, representing insurance companies, agent/broker associations, and the general public, with day-to-day operations staffed by insurance professionals. The entity is not publicly traded, has no venture capital or private equity backing, and does not disclose revenue publicly; financial information is shared with members via quarterly statements and annual reports.
NJIUA firmographics
Firmographics- Name
- NJIUA
- Legal name
- New Jersey Insurance Underwriting Association
- Website
- https://portal.njiua.org
- Company type
- Private
- Founded year
- 1968
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- NJIUA is the New Jersey state-mandated residual property insurance market (FAIR Plan), providing dwelling fire, commercial fire, and crime coverage to property owners unable to obtain coverage in the voluntary market, distributed via licensed producers and its FINYS policy administration platform.
- Ownership category
- akta.pro rank
Where NJIUA is headquartered
LocationHeadquarters
- HQ city
- Newark
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
NJIUA business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure
Revenue model
- Property Insurance Premiums: NJIUA generates revenue through insurance premiums collected from dwelling fire policies (DP1 and DP2), commercial fire policies, extended coverage, vandalism coverage, crime policies (storekeepers burglary/robbery, mercantile open stock, office burglary, residence burglary), and limited fungi/wet or dry rot/bacteria coverage endorsements. Premiums are collected at policy inception and renewal, with assessments to member insurance companies to cover projected budget including anticipated claims and expenses.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Dwelling Fire Insurance (DP1 and DP2 policies) |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels3 records
NJIUA product offering
Product offeringCore offering
NJIUA is a state-mandated residual market insurance association that provides essential property insurance to New Jersey applicants who cannot secure coverage in the voluntary market. It administers the Property FAIR Plan (dwelling fire policies in DP1 Basic Form and DP2 Broad Form, plus commercial fire policies) and the Crime Indemnity Plan (burglary and robbery coverage for mercantile, office, and residential exposures). All voluntary admitted market property insurers in New Jersey are members and provide financial backing through assessments.
Product overview
NJIUA operates as a state-mandated residual market insurer (FAIR Plan) providing essential property insurance to New Jersey residents unable to obtain coverage from voluntary market insurers. The organization administers two core insurance programs: the Property FAIR Plan covering dwelling and commercial fire risks, and the Crime Indemnity Plan covering various burglary and robbery exposures. The product portfolio includes DP1 Basic Form and DP2 Broad Form dwelling policies, commercial fire policies, and specialized endorsements such as hurricane deductibles and limited fungi coverage. NJIUA delivers its services through multiple channels including a Producer Portal for licensed agents, the FINYS policy administration system for online quotes and transactions, an online payment system, and the e2Value estimator tool for insurance-to-value calculations.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- Essential property insurance is provided to New Jersey residents unable to obtain voluntary market coverage
Companies that use NJIUA
Customer profileSegments2 records
Ideal customer profiles2 records
NJIUA technology and API
TechnologyAPI detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
NJIUA partnerships and signals
Strategic signalScale indicators4 records
Recent moves2 records
Expansion highlights4 records
NJIUA competitors and assessment
Company assessmentDirect peers
- California FAIR Plan Association: California's state-mandated residual property insurer, providing basic property insurance to homeowners and businesses unable to find coverage in the voluntary market. Shares NJIUA's FAIR Plan structure, mandate, and member-assessment backstop model.
- Florida Citizens Property Insurance Corporation: Florida's state-created residual market insurer of last resort for property coverage. Comparable residual market role to NJIUA, though operating at substantially larger scale and with significant CAT (hurricane) exposure.
- Texas FAIR Plan Association: Texas's legislatively created FAIR Plan providing basic property insurance to applicants unable to obtain coverage through the voluntary market. Operates a structurally similar residual market mechanism to NJIUA.
- Louisiana Citizens Property Insurance Corporation: Louisiana's residual market property insurer providing coverage to applicants unable to obtain insurance in the voluntary market. Direct functional peer with similar residual-market mandate and assessment backstop.
- Massachusetts Property Insurance Underwriting Association: Massachusetts's state-created FAIR Plan offering dwelling fire and crime coverage to residents unable to obtain voluntary market insurance. Operates an essentially identical residual market structure to NJIUA.
- Pennsylvania FAIR Plan: Pennsylvania's residual market property insurer established under state statute to provide basic property insurance for risks that cannot obtain coverage voluntarily. Closely comparable mandate and operating model to NJIUA.
- Illinois FAIR Plan Association: Illinois's state FAIR Plan providing basic property insurance to applicants unable to secure coverage in the voluntary market. Same residual-market mechanism and statutory structure as NJIUA.
- New York Property Insurance Underwriting Association: New York's legislatively created FAIR Plan equivalent, providing residual market property insurance to NY residents unable to obtain voluntary market coverage. Operates the same statutory residual market model as NJIUA in an adjacent state.
Others
- Insurance Services Office (ISO): ISO (a Verisk business) provides advisory property loss-cost estimates, rating, and statistical services used by NJIUA and similar FAIR Plans for rate filings. Functions as an industry infrastructure provider to NJIUA's underwriting operations.
- National Association of Insurance Commissioners (NAIC): NAIC is the U.S. standard-setting and regulatory support organization for state insurance departments. Relevant to NJIUA because residual market mechanisms like NJIUA operate under state insurance regulatory frameworks coordinated through NAIC.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
NJIUA social profiles
Digital presenceNJIUA financial estimates
Financial estimateRevenue estimate
Valuation estimate
NJIUA leadership team
Management profileNumber of profiles
Profiles1 record
NJIUA funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NJIUA M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NJIUA
What does NJIUA do?
NJIUA is a state-mandated residual market insurance association that provides essential property insurance to New Jersey applicants who cannot secure coverage in the voluntary market. It administers the Property FAIR Plan (dwelling fire policies in DP1 Basic Form and DP2 Broad Form, plus commercial fire policies) and the Crime Indemnity Plan (burglary and robbery coverage for mercantile, office, and residential exposures). All voluntary admitted market property insurers in New Jersey are members and provide financial backing through assessments.
Is NJIUA a public or private company?
NJIUA is a private company. It is classified as unknown and is currently operating.
When was NJIUA founded?
NJIUA was founded in 1968. It employs 1 to 10 people.
Where is NJIUA based?
NJIUA is headquartered in Newark, United States, in the North America region.
How does NJIUA make money?
One revenue line is on record: property Insurance Premiums.
Who are NJIUA's main competitors?
Direct peers on record are California FAIR Plan Association, Florida Citizens Property Insurance Corporation, Texas FAIR Plan Association, Louisiana Citizens Property Insurance Corporation, Massachusetts Property Insurance Underwriting Association, Pennsylvania FAIR Plan, Illinois FAIR Plan Association and New York Property Insurance Underwriting Association. Others are Insurance Services Office (ISO) and National Association of Insurance Commissioners (NAIC).
Does NJIUA have an API?
No public API is recorded for NJIUA.