Getting to Know NJSIG

New Jersey Schools Insurance Group ("NJSIG) is a school board insurance group, also known as an insurance risk pool, which provides insurance coverage to NJ public schools (workers’ compensation, general liability, auto liability, cyber, property, school board leader liability, and excess/umbrella coverage).

NJSIG is a public entity established in accordance with P.L. 1983, c. 108. We are member-owned and member-run. NJSIG does not operate for profit, and functions for the sole purpose of providing cost-effective insurance coverage to our members. Unlike commercial insurance companies whose goal is to collect enough premiums to make a profit for their shareholders, NJSIG’s goal is to collect the precise amount of member contributions to cover anticipated future losses, no more, no less. Because of this commitment to our members, NJSIG has made it a priority to return member contributions back to members. Since 2009, NJSIG has returned over $58,000,000 in a combination of safety grants, COVID-19 refunds, and surplus returns.

What is an insurance pool?

The concept of pooling is one whereby public entities can join together to provide protection from risks on a group basis. As a self-insurance pool, NJSIG members collectively attain benefits not possible individually and pool their premiums into a common fund to be used for the benefit of all member districts.

NJSIG’s Board of Trustees

NJSIG is governed by a Board of Trustees which is comprised of School Board members, Superintendents and Business Administrators from NJSIG member districts. NJSIG is comprised of approximately 365 boards of education and charter school districts, and offers members a cost-effective method of obtaining. NJSIG provides claims administration, underwriting and safety and risk control services for members.

Click here for more information about NJSIG’s Board of Trustees.