Demotech Assigns Financial Stability Rating® to Garden State Municipal Joint Insurance Fund

The Garden State Municipal Joint Insurance Fund (GSMJIF) has earned a Financial Stability Rating® (FSR) of AA, Unsurpassed.  Demotech assigns this level of FSR to public entity pools possessing unsurpassed financial stability that has been demonstrated by the liquidity of invested assets, acceptable level of financial leverage, realistic pricing, reasonable loss and loss adjustment expense reserves, high quality reinsurance, a meaningful level of surplus, and a strategy to control insurance costs through risk management protocols.
FSRs summarize Demotech’s opinion of the financial stability of a public entity pool regardless of general economic conditions or the phase of the underwriting cycle.  FSRs are based upon financial data and a review of critical facets of operations. 

“We are extremely gratified to have been assigned Demotech’s AA (Unsurpassed) Financial Stability Rating®,” said Jonathan Hall, GSMJIF Executive Director. “The GSMJIF promise to its members is that we will manage the Fund effectively and responsibly, implementing the best practices to improve public employee safety and lower the ultimate cost of risk. This rating is further confirmation that GSMJIF is extremely strong financially and solidly positioned for continued growth and long-term success.”
About the Garden State Municipal Joint Insurance Fund (GSMJIF)
The Garden State Municipal Joint Insurance Fund was formed in 2002 by NIP Group, Inc. in response to the lack of affordable commercial insurance for municipalities. The primary objective of the GSMJIF is to provide its members with a secure, long-term and cost-effective risk management program that will help maintain municipal budget stability year over year. The GSMJIF achieves this objective by implementing the best risk, underwriting, claims and litigation management practices, which improve public and employee safety and lower the ultimate cost of risk. Each of these disciplines is overseen by internal, highly experienced managers who work closely with outside service providers and members to achieve best-in-class results.  Visit for more information.

About Demotech, Inc.

Demotech, Inc. is a financial analysis firm specializing in evaluating the financial stability of regional and specialty insurers.  Since 1985, Demotech has served the insurance industry by assigning accurate, reliable and proven Financial Stability Ratings® (FSRs) for Property & Casualty insurers, public entity pools, and Title underwriters.  FSRs are a leading indicator of financial stability, providing an objective baseline of the future solvency of a public entity pool. Demotech's philosophy is to evaluate insurers based on their area of focus and execution of their business model rather than solely on financial size.  Visit for information.