Proformance Insurance Company, a subsidiary of National Atlantic Holdings Corporation and a domestic New Jersey insurer, 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% 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% discount.
The Loyalty Loss Free Discount applies only to the personal automobile insurance, whether mono-line or part of the packaged “High Proformance Policy.” The “High Proformance Policy” is the company’s flagship packaged product, offered through its Proformance Insurance subsidiary, and contains coverage for private passenger automobile, homeowners, personal excess (“umbrella”) liability and personal specialty property insurance covering jewelry, furs, fine arts, antiques, cameras, boats, yachts and other high value items.
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