Proformance Insurance Company, the largest subsidiary of National Atlantic Holdings Corporation and a domestic New Jersey insurer, today announced that its Loyalty Loss Free Discount Program for its auto insurance policyholders has been approved by the New Jersey Department of Banking & Insurance.
Under the new program, policyholders who have been with Proformance as auto policyholders for three consecutive years will receive a 5 percent discount on premiums if they have had no claims during the three year period. Loss-free policyholders of six years or more will receive a 10 percent discount.
“Our track record of policyholder retention has been crucial to our overall success in the New Jersey personal insurance market,” said James V. Gorman, chief executive officer. “We are pleased to have the opportunity to reward our loyal policyholders with premium discounts on their policies,” he said.
The new discount applies only to the personal automobile insurance, whether mono-line or part of the packaged “High Proformance Policy that contains coverage for private passenger automobile, homeowners, personal excess liability and personal specialty property insurance covering jewelry, furs, fine arts, antiques, cameras, boats, yachts and other high value items.
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