Category Archives: Business: Insurance

Press Releases from the Insurance world, What’s new, Popular, Trending and News Worthy. In the ever changing industry of Insurance.

NFP Acquires The Schuster Group, Enhancing Benefits and Retirement Capabilities in the Northeast


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“As we strengthen our capabilities across the business, we’re excited to welcome TSG, a team we’ve worked with successfully over the years,” said Bill Austin, president of NFP’s Northeast region.

NFP, a leading insurance broker and consultant that provides property and casualty (P&C), corporate benefits, retirement, and individual solutions, today announced the acquisition of Schuster Driscoll, LLC, d/b/a The Schuster Group, and their nonprofit membership platform, TANGO Administrative and Management Services, LLC (together, TSG). The transaction closed on December 31, 2020.

TSG, located in Farmington, Connecticut, with ancillary sales offices in Rhode Island and Massachusetts, is a multidisciplinary insurance broker and consultant focused on employee benefits. The firm also offers capabilities in retirement advisory services. NFP’s acquisition of TSG brings expertise in the nonprofit space that will be integrated into NFP’s existing benefits offerings and resources to enhance insurance solutions to nonprofit clients. Firm principal Rollin Schuster will join NFP as a managing director and report to Kate Henry, a regional managing director in NFP’s Northeast region.

“As we strengthen our capabilities across the business, we’re excited to welcome TSG, a team we’ve worked with successfully over the years,” said Bill Austin, president of NFP’s Northeast region. “Our focus remains on strategic growth, so the addition of TSG creates an opportunity for us to grow in the Connecticut market.”

“We’re thrilled to welcome Rollin and his team to NFP,” said Henry. “TSG brings experience in the nonprofit space for both benefits and retirement advisory services and their skills and expertise will be a welcome addition to our existing offerings.”

“We’re happy to join NFP, a long-time benefits partner, to combine resources and expand the value we provide to clients,” said Schuster. “NFP’s resources will enhance our capabilities and position us to better address the needs of organizations we serve. Our shared focus on investing in communities will be particularly helpful as we advance TANGO’s work to help nonprofit organizations achieve their missions and elevate their impact.”

About NFP

NFP is a leading insurance broker and consultant providing specialized property and casualty, corporate benefits, retirement, and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 5,800 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 5th largest benefits broker by global revenue, 5th best place to work in insurance and 6th largest US-based privately owned broker (Business Insurance); 9th commercial lines agency by P&C commercial lines revenue and 10th largest property and casualty agency (Insurance Journal); and 12th largest global insurance broker (Best’s Review).

Visit NFP.com to discover how NFP empowers clients to meet their goals.

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Top Safety Devices That Can Help Drivers Pay Less on Their Car Insurance Premiums


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“Drivers that install safety devices in their vehicles will pay lower insurance rates. However, before installing any safety devices, drivers should call their insurers to check what devices are approved.”, said Russell Rabichev, Marketing Director of Internet Marketing Company.

Compare-autoinsurance.org has launched a new blog post that presents several safety devices that will help drivers obtain cheaper car insurance rates.

For more info and free quotes, please visit https://compare-autoinsurance.org/safety-devices-that-lower-car-insurance-rates/

Drivers that are looking to purchase car insurance, should ensure that they will get a policy that offers lots of protection for a small price. Although for many this sounds hard to achieve, there are several methods to obtain lower premiums. For example, drivers that install several safety devices in their vehicles will pay less on their insurance.

Drivers can save car insurance money with the help of the next safety devices:

  • Rear-view cameras. Drivers that install a rear-view camera on their vehicles will be able to watch on a monitor how they back up and see if there are any obstacles behind the vehicle.
  • GPS systems. Usually, a GPS system is used to guide people to go from one location to another. However, these systems can work a little differently. Many drivers are using GPS tracking systems. These tracking devices are installed in hidden locations so that the thieves will have a hard time finding them. With the help of these systems, car owners will always know where are their vehicles. If a car fitted with such a device gets stolen, then the authorities will have no troubles to recover the vehicle. For this reason, the insurers will offer a generous discount to drivers that have GPS-based tracking systems in their vehicles.
  • Anti-theft devices. There are many aftermarket anti-theft devices that drivers can install in their vehicles. Kill switches, alarm systems, armored collars, and other anti-theft devices can help drivers pay lower insurance rates.
  • Airbags. Although airbags are a standard feature for all new vehicles, some older vehicles are not equipped with airbags. Drivers should ensure that their cars have airbags installed in order to take advantage of a discount.

For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.org/

Compare-autoinsurance.org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

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Avemco Insurance Company Celebrates 60 Years in Maryland


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2021 marks Avemco Insurance Company’s 60th year as the only direct writer of aircraft insurance in the United States.

Since its founding in 1961, Avemco has grown to become one of the most widely recognized aviation insurers in the country serving the private pilot community. Today, it has a financial strength rating of “A++ (Superior)” from A.M. Best, a leading credit rating agency focused on the insurance industry.

Avemco was founded in Montgomery County, Maryland, as the Aviation Employees Corporation. Later renamed Avemco Insurance Company, the organization relocated to Frederick, Maryland, in 1982. Avemco has maintained its national headquarters in Frederick, ever since despite several changes in corporate leadership, including the acquisition by Tokio Marine HCC in 1997. Initially, the company’s offices overlooked the runways at Frederick Municipal Airport, before relocating to its current location at 8490 Progress Drive.

Since its founding, Avemco has maintained its focus of insuring the pilots and operators of General Aviation aircraft, specializing in liability and physical damage coverage for single- and multi-engine piston-powered land and seaplanes, gliders, experimental aircraft, instructors, and flying clubs. The company has generated a loyal following among its policyholders with more than 50% insured for five years or longer. Dozens of customers have been Avemco policyholders for as long as 40 continuous years. The company has also retained a loyal base of employees, some of whom have been with the company for more than 40 years.

Over the years, many aviation luminaries and retired U.S. Air Force generals have served on Avemco’s Board of Directors, including a retired NASA astronaut.

Avemco is recognized as a leader in the aviation industry for its commitment to encouraging pilot safety. The company sponsors safety webinars, in-person seminars, and other educational series designed to raise awareness of how pilots can protect themselves and their families by flying safely. Among Avemco’s initiatives is the support of the FAA’s WINGS – Pilot Proficiency Program. The company also regularly publishes safety articles by noted certified flying instructors (CFIs), aviation experts, and Avemco staff.

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Lyman & Sheets Agency Earns Diamond Achiever Award in Michigan from Frankenmuth Insurance


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Lyman & Sheets Agency has been named Michigan’s 2020 Diamond Achiever by Frankenmuth Insurance. The annual award is presented to the highest performing agency based on set criteria including length of appointment, profitability, growth, and policy retention. Each year, the top Frankenmuth agencies receive the “Diamond Achiever” award in recognition of their outstanding accomplishment.

“We truly value our partnership with Lyman & Sheets Agency and are pleased to present their management team and staff with our Diamond Achiever award,” said Frankenmuth Insurance President and COO Fred Edmond. “This recognition exemplifies their commitment to providing quality, professional insurance products and services to our mutual clients.”

The results achieved by the team at Lyman & Sheets Agency helped the agency become one of the most successful among Frankenmuth Insurance’s more than 700 independent agencies.

“To be selected on two separate occasions as the recipient of the Diamond Achiever Award from Frankenmuth Insurance in 2017 and 2020 is a tremendous honor. As an agency, we are always looking to partner with insurance carriers who provide value to our clients,” said Mike Sheets, Agency Principal, Lyman & Sheets Agency. “It would not have been possible without the teamwork and support of the many professionals with whom we work with at Frankenmuth Insurance. We are proud to represent Frankenmuth Insurance due to their exceptional coverage and superior claims-handling service offered to our clients.”

Lyman & Sheets Agency has been licensed with Frankenmuth Insurance since 1967 and is recognized as one of the carrier’s Preferred Plus independent insurance agency partners.

About Frankenmuth Insurance

Insurance exists to provide peace of mind, and Frankenmuth Insurance has been protecting individuals, families and businesses for more than 150 years. We truly care about the people we serve and strive to be your insurer of choice. We partner exclusively with nearly 700 independent agents to customize business, home, auto, and life insurance policies and surety bonds. Headquartered in Frankenmuth, Michigan, and doing business in 15 states, Frankenmuth Insurance is financially sound, with $1.8 billion in assets. The company has an A.M. Best rating of “A” (Excellent). For more information visit fmins.com.

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Marsh & McLennan Agency Midwest Region Earns Diamond Achiever Award in Ohio From Frankenmuth Insurance


Marsh & McLennan Agency Midwest Region, has been named Ohio’s 2020 Diamond Achiever by Frankenmuth Insurance. The annual award is presented to the highest performing agency based on set criteria including length of appointment, profitability, growth, and policy retention. Each year, the top Frankenmuth agencies receive the “Diamond Achiever” award in recognition of their outstanding accomplishment.

“We truly value our relationship with Marsh & McLennan Agency and are pleased to present their management team and staff with our Diamond Achiever award,” said Frankenmuth Insurance President and COO Fred Edmond. “This recognition exemplifies their commitment to providing quality, professional insurance products and services to our mutual clients.”

The results achieved by the team at Marsh & McLennan Agency helped the agency become one of the most successful among Frankenmuth Insurance’s more than 700 independent agencies.

“We are honored to receive this award and look forward to a collaboration with Frankenmuth and protecting the assets of our mutual business and individual clients throughout the Midwest.” Nick Bertke, Executive Vice President, Commercial Lines Carrier & Client Relations Midwest Region

Marsh & McLennan Agency has been licensed with Frankenmuth Insurance since 1992 and is recognized as one of the carrier’s Preferred Plus independent insurance agency partners.

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About Frankenmuth Insurance

Insurance exists to provide peace of mind, and Frankenmuth Insurance has been protecting individuals, families and businesses for more than 150 years. We truly care about the people we serve and strive to be your insurer of choice. We partner exclusively with nearly 700 independent agents to customize business, home, auto, and life insurance policies and surety bonds. Headquartered in Frankenmuth, Michigan, and doing business in 15 states, Frankenmuth Insurance is financially sound, with $1.8 billion in assets. The company has an A.M. Best rating of “A” (Excellent). For more information visit fmins.com.

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Towne Insurance Agency Earns Diamond Achiever Award in North Carolina from Frankenmuth Insurance


Towne Insurance Agency has been named North Carolina’s 2020 Diamond Achiever by Frankenmuth Insurance. The annual award is presented to the highest performing agency based on set criteria including length of appointment, profitability, growth, and policy retention. Each year, the top Frankenmuth agencies receive the “Diamond Achiever” award in recognition of their outstanding accomplishment.

“We truly value our partnership with Towne Insurance Agency and are pleased to present their management team and staff with our Diamond Achiever award,” said Frankenmuth Insurance President and COO Fred Edmond. “This recognition exemplifies their commitment to providing quality, professional insurance products and services to our mutual clients.”

The results achieved by the team at Towne Insurance Agency helped the agency become one of the most successful among Frankenmuth Insurance’s more than 700 independent agencies.

“We are honored to receive this recognition from our partners at Frankenmuth Insurance,” said Jim Clement, Regional President of North and South Carolina for Towne Insurance. “Since the start of our relationship in 2018, we have worked together to provide exceptional service to our clients, and we look forward to many more years of shared success.”

Towne Insurance Agency has been licensed with Frankenmuth Insurance since 2018 and is recognized as one of the carrier’s Preferred independent insurance agency partners.

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About Frankenmuth Insurance

Insurance exists to provide peace of mind, and Frankenmuth Insurance has been protecting individuals, families and businesses for more than 150 years. We truly care about the people we serve and strive to be your insurer of choice. We partner exclusively with nearly 700 independent agents to customize business, home, auto, and life insurance policies and surety bonds. Headquartered in Frankenmuth, Michigan, and doing business in 15 states, Frankenmuth Insurance is financially sound, with $1.8 billion in assets. The company has an A.M. Best rating of “A” (Excellent). For more information visit fmins.com.

About Towne Insurance

Towne Insurance, a wholly owned subsidiary of TowneBank, is a premier insurance agency providing comprehensive solutions and risk management programs to businesses of all sizes, including property and casualty insurance, workers’ compensation, bonding, employee benefits and more. Additionally, personal lines agents specialize in home, auto, umbrella and flood insurance. Headquartered in Hampton Roads in southeastern Virginia, and serving communities across Virginia, North Carolina, and South Carolina, Towne’s over 400 experienced professionals work with the nation’s top-rated insurance companies to find members the right coverage at a competitive price. For more information, visit http://www.TowneInsurance.com.

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AssuredPartners Earns Diamond Achiever Award from Frankenmuth Insurance


AssuredPartners has been named South Carolina’s 2020 Diamond Achiever by Frankenmuth Insurance. The annual award is presented to the highest performing agency based on set criteria including length of appointment, profitability, growth, and policy retention. Each year, the top Frankenmuth agencies receive the “Diamond Achiever” award in recognition of their outstanding accomplishment.

“We truly value our partnership with AssuredPartners and are pleased to present their management team and staff with our Diamond Achiever award,” said Frankenmuth Insurance President and COO Fred Edmond. “This recognition exemplifies their commitment to providing quality, professional insurance products and services to our mutual clients.”

The results achieved by the team at AssuredPartners helped the agency become one of the most successful among Frankenmuth Insurance’s more than 700 independent agencies.

“We are honored to receive Frankenmuth’s top award in the state, and we value our partnership with them,” said Kenneth Mims, agency president for AssuredPartners.

AssuredPartners has been licensed with Frankenmuth Insurance since 2006 and is recognized as one of the carrier’s Preferred independent insurance agency partners. AssuredPartners in Sumter is located at 1170 Wilson Hall Road and insures businesses with Frankenmuth Insurance throughout the midlands of South Carolina.

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About Frankenmuth Insurance

Insurance exists to provide peace of mind, and Frankenmuth Insurance has been protecting individuals, families and businesses for more than 150 years. We truly care about the people we serve and strive to be your insurer of choice. We partner exclusively with nearly 700 independent agents to customize business, home, auto, and life insurance policies and surety bonds. Headquartered in Frankenmuth, Michigan, and doing business in 15 states, Frankenmuth Insurance is financially sound, with $1.8 billion in assets. The company has an A.M. Best rating of “A” (Excellent). For more information visit fmins.com.

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1st Source Insurance Earns Diamond Achiever Award in Indiana


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1st Source Insurance has been named Indiana’s 2020 Diamond Achiever by Frankenmuth Insurance. The annual award is presented to the highest performing agency based on set criteria including length of appointment, profitability, growth, and policy retention. Each year, the top Frankenmuth agencies receive the “Diamond Achiever” award in recognition of their outstanding accomplishment.

“We truly value our partnership with 1st Source Insurance and are pleased to present their management team and staff with our Diamond Achiever award,” said Frankenmuth Insurance President and COO Fred Edmond. “This recognition exemplifies their commitment to providing quality, professional insurance products and services to our mutual clients.”

The results achieved by the team at 1st Source Insurance helped the agency become one of the most successful among Frankenmuth Insurance’s more than 700 independent agencies.

John Ball, President of 1st Source Insurance, said “I am honored to accept this award on behalf of our entire team. This award is a reflection of their dedication and hard work, and also would not be possible without our incredible underwriting team at Frankenmuth. We appreciate the tremendous value that Frankenmuth Insurance provides to our mutual clients each and every day.”

1st Source Insurance has been licensed with Frankenmuth Insurance since 1999 and is recognized as one of the carrier’s Preferred independent insurance agency partners.

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About Frankenmuth Insurance

Insurance exists to provide peace of mind, and Frankenmuth Insurance has been protecting individuals, families and businesses for more than 150 years. We truly care about the people we serve and strive to be your insurer of choice. We partner exclusively with nearly 700 independent agents to customize business, home, auto, and life insurance policies and surety bonds. Headquartered in Frankenmuth, Michigan, and doing business in 15 states, Frankenmuth Insurance is financially sound, with $1.8 billion in assets. The company has an A.M. Best rating of “A” (Excellent). For more information visit fmins.com.

About 1st Source Insurance

1st Source Insurance operates from 10 offices located across northern Indiana and offers straight talk and sound advice while providing Business Insurance, Personal Insurance and Employee Benefits. 1st Source Corporation, parent company of 1st Source Insurance and 1st Source Bank, has assets of $7.3 billion and is the largest locally controlled financial institution in the northern Indiana-southwestern Michigan area. The Corporation includes 79 banking centers, 18 1st Source Bank Specialty Finance Group locations nationwide, nine Wealth Advisory Services locations and 10 1st Source Insurance offices. For more than 155 years, 1st Source has been committed to our mission of helping our clients achieve security, build wealth and realize their dreams. For more information, visit http://www.1stsource.com/insurance.

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NationsBuilders Insurance Services, Inc. (NBIS) Awarded Longevity Award by SC&RA for 25 Years of Service


NBIS 25 years Longevity

NBIS Celebrates 25 Years of Service to the SC&RA

“We are proud of our partnership and endorsement with the SC&RA and its members” commented Bill Tepe, President & CFO of NBIS. Adding, “Together, NBIS and the Association worked to improve the risk profile of the member companies and the industry as a whole.”

SC&RA’s Longevity Awards are presented to member companies for their longtime support and dedication to the Association and its mission. NBIS was recognized with the 25 Years Award.

Throughout its membership, NBIS has been the endorsed provider of property casualty insurance to the members of the SC&RA. NBIS serves SC&RA members and the industry with unparalleled Risk Solutions developed alongside SC&RA members to be right sized for the industry. Every policyholder has access to our Risk Management Support System (RMSS™) and able to take advantage of resources and partnerships developed to support the safety culture, manage & reduce claims and increase compliance with industry regulations & standards.

“We are proud of our partnership and endorsement with the SC&RA and its members” commented Bill Tepe, President & CFO of NBIS. Adding, “Together, NBIS and the Association worked to improve the risk profile of the member companies and the industry as a whole.”

As a leading provider of Risk Management & Insurance Solutions, NBIS specializes in providing insurance solutions for the Crane & Rigging, Concrete Pumping and Specialized Transportation/Heavy Haul Industries.

Want to learn more about NBIS Coverages and the Risk Management Support System? Contact us today at 870.866.RMSS

To learn more about NBIS’ insurance & risk solutions, visit us on the web: http://www.NBIS.com

Media Contact for NBIS: Lisa McAbee, Marketing Director – (770) 257-1707 lmcabee@nbis.com    

About NBIS

NBIS is the Premiere provider of Insurance & Risk Management Solutions to the heavy construction industry and the exclusively endorsed provider for the Specialized Carriers & Rigging Association (SC&RA). Providing coverage and Risk Management Services that works for you to prevent losses and give your company the best fighting chance in the event of a claim. For more information about NBIS, please visit: http://www.NBIS.com.

About SC&RA

The Specialized Carriers & Rigging Association (SC&RA) is an international trade association of more than 1,400 members from 46 nations. Our members are involved in specialized transportation, crane and rigging operations, machinery moving and erecting, industrial maintenance, millwrighting, manufacturing, concrete pumping, and rental services. SC&RA helps members run more efficient and safer businesses by monitoring and affecting pending legislation and regulatory policies at the state and national levels and researching and reporting on safety concerns and best business practices. For more information, visit scranet.org.

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PCF Insurance Services and East Coast Insurance Group Form Strategic Partnership


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“We knew we wanted to reach next level growth and partnering with PCF helped us recognize that potential” said Cindy Fraser, owner and principal of East Coast Insurance Group.

PCF Insurance Services (PCF) is pleased to announce the completion of a new partnership with East Coast Insurance Group, located in Nokomis, Florida. PCF’s investment will enable East Coast Insurance Group the opportunity to cross-sell with other PCF agencies for more comprehensive coverage for families and businesses in the communities of Florida and East coast states.

Cindy Fraser, owner and agency principal of East Coast Insurance Group, will continue to lead all operations while becoming an owner and Partner of PCF Insurance Services. Fraser started the company with a vision of leading the automobile sales and services industries vertical. She takes pride in knowing her customer’s needs and providing them with proper coverage to ensure their assets are properly protected.

“We are thrilled to partner with the East Coast Insurance Group team and to continuously establish our footprint in the transportation industry,” said Peter Foy, chairman, CEO and founder of PCF Insurance Services. “This partnership integrates our agencies in a way that will provide unparalleled transportation servicing to our clients and prospect.”

East Coast Insurance Group will operate under its current autonomy with best-in-class auto and transportation insurance offerings and quality customer service. It will continue as a proud member of the regional and nationwide business community, including working with significant blocks of customers like auto recycling, towing, and auto sales and service.

“We knew we wanted to reach next level growth and partnering with PCF helped us recognize that potential” said Cindy Fraser, owner and principal of East Coast Insurance Group. “We have achieved our overall vision but want to continue to grow with the help of PCF’s national infrastructure.”

PCF will bring added infrastructure and operational support to East Coast Insurance Group through its Shared Services team. This elite team of experts offer tailored support in the areas of finance and accounting, human resources, information systems, carrier relations, communication and marketing, and growth operations. With 36 acquisitions in 2020 and over 60 agencies dotted across the United States, PCF is establishing its place on the national stage among the industry’s most active acquirers.

Learn more about East Coast Insurance Group here: https://ecinsgroup.com/

About PCF

Founded in 1987 and headquartered in Woodland Hills, CA, PCF is a full-service insurance brokerage firm which provides complete risk management solutions with a broad array of property & casualty, life and health, employee benefits and workers’ compensation insurance products. Due to its scale and growth, PCF is a top 50 broker in the United States by revenue. Additional information can be found at https://pcfinsuranceservices.com/.

About East Coast Insurance Group

East Coast Insurance Group was founded in 1999 and is currently led by owner and agency principal, Cindy Fraser. It is headquartered in Nokomis, Florida with an office on Martha’s Vineyard, MA with a significant footprint in the New England states and focuses primarily within the auto sales and services insurance area of the industry. Its end goal is to properly protect its customer’s assets, save them money and provide the best service in the business. Additional information can be found at https://ecinsgroup.com/about-us/.

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