NSM Insurance Group Acquires California PL Broker
PHILADELPHIA, Nov. 4, 2013 /PRNewswire/ -- NSM Insurance Group, the national market leader in the development and distribution of industry specific insurance programs and wholesale distribution; has acquired Executive Liability Managers Insurance Brokers (ELM).
ELM is a 25 year old professional liability wholesale insurance brokerage. ELM, with three offices in California, will immediately expand their insurance expertise into all 50 states, leveraging the 10,000 independent agents NSM Insurance Group currently has under contract across the country.
The acquisition of ELM strengthens NSM Insurance Group's capabilities in professional liability and strategically expands and diversifies NSM Insurance Group's national market for admitted and non-admitted business.
NSM Insurance Group's CEO, Geof McKernan said, "I am pleased to announce that ELM will provide the opportunity to expand our Professional E&O footprint in the U.S. as well as cultivate relationships with new independent agents. ELM is a great tactical and strategic complement to NSM Insurance Group's dynamic growth."
ELMs Director, Fred Fisher said, "NSM Insurance Group combined with our long wholesale brokerage experience gives us the ability to grow dynamically" NSM Insurance Group will also support ELM's development of professional liability products in new and trending practice areas like cyber liability."
Brian DeGraw, Director of Professional Liability at NSM Insurance Group added, "ELM is an expert resource for independent agents around the country, offering outstanding E&O products, price and efficient process. ELM brings years of Professional Liability wholesale brokerage experience which means it is a win-win for agents and their clients."
NSM Insurance Group is a national commercial P&C insurance Program Administrator specializing in the development and implementation of industry specific insurance programs across the United States. We are continuously seeking to acquire retail agencies, wholesalers and Program Administrators throughout the country.
SOURCE NSM Insurance Group