NIP Group, a leading specialty insurance provider with over 35
years of experience, in collaboration with AmTrust Financial
Services, Inc. (AmTrust), a top US insurer, are proud to introduce
PropanePro™, a new insurance solution tailored for the Propane Gas
Distribution industry.
WOODBRIDGE, N.J., July 23,
2024 /PRNewswire-PRWeb/ -- NIP Group, a leading
specialty insurance provider with over 35 years of experience, in
collaboration with AmTrust Financial Services, Inc. (AmTrust), a
top US insurer, are proud to introduce PropanePro™, a new insurance
solution tailored for the Propane Gas Distribution industry.
"The timing is right for PropanePro™ as
Propane Gas Distributors navigate a business insurance market with
fewer options and rising premiums, particularly in commercial
auto," said Tom Doherty, SVP of
National Programs at NIP Group.
This innovative program leverages NIP Group's deep understanding
of Program Underwriting and AmTrust's extensive experience in
specialty insurance, including Workers' Compensation. It is
designed specifically for insurance brokers serving Propane Gas
Distributors engaged in retail delivery and sales of propane/butane
across residential, commercial, industrial, and agricultural
sectors.
PropanePro™ is built on NIP Group's commitment to safeguarding
safety-conscious organizations, supported by a Program Underwriting
team with over a decade of Liquid Petroleum Gas (LPG) industry
expertise. The program offers broad coverage, an extensive product
offering, and risk management services, custom fit for leading LPG
operators dedicated to the highest standards of safety.
"The timing is right for PropanePro™ as Propane Gas Distributors
navigate a business insurance market with fewer options and rising
premiums, particularly in commercial auto. This distinctive program
solution, blending NIP Group's risk innovation with AmTrust's broad
capabilities, takes business insurance for Propane Gas Distributors
to the next level," said Tom
Doherty, SVP of National Programs at NIP Group.
"AmTrust is focused on meeting the needs of the Propane Gas
Distributors industry, by leveraging our long-term partnership with
NIP Group to drive innovation and provide outstanding insurance and
risk solutions through niche expertise, and unparalleled service,"
commented Dan Hickey, President of
AmTrust Specialty Insurance.
The new program addresses the individual needs of:
- Residential Distributors: Experienced
LPG operators provide essential services to residential customers
across the country who rely on propane as a heat source for
furnaces, water heaters, cooking equipment, interior appliances,
gas grills, pools, and more. These operators reinforce their
commitment to safety with their customers by mandating continuous
propane handling education to staff such as field technicians and
vehicle maintenance mechanics.
- Commercial Distributors: Many LPG
operators have a larger portfolio of residential customers compared
to commercial clients, however the gallon distribution needs of
commercial clients, including restaurants and industrial &
agricultural contractors, may be equal to or greater than their
residential customer base. Like residential distributors,
commercial LPG operators implement safety practices that often
exceed industry standards and include documentation of overall
operations and service work performed.
PropanePro™ will serve companies in over 35 states, with
additional state eligibility expected soon after launch. A key
differentiator for PropanePro™ is its extensive product offering,
including General Liability, Commercial Auto, Excess Liability,
Workers' Compensation, Property, and Inland Marine, all from the
same insurer.
Eligible Class Codes include:
- SIC 5984 – Gas Dealers and
Distributors
o 13410 Gas Dealers – LPG
o 13412 Gas Distributors – LPG
o 95648 Heating or combined heating and air
conditioning systems or equipment
o 18437 Stores – No food or drink – Other
than Not-for-Profit
- 8350 – Workers' Compensation Class
Code
We encourage insurance brokers to discover how PropanePro™ can
significantly improve safety and growth opportunities for clients
in the LPG industry. For additional details on this new program,
please visit NIPGroup.com/PropanePro or reach out to PropanePro™
Business Development lead, Sean
Delapaz, at sdelapaz@nipgroup.com.
About NIP Group
NIP Group is the leading specialty insurance provider, offering
comprehensive package solutions and monoline insurance products for
25+ industries and 50+ classes. For more than 35 years, we've
proudly partnered with best-in-class, A rated XV carriers and a
trusted, national network of insurance brokers, working together to
protect safety-focused organizations from coast to coast. Learn
more at http://www.NIPGroup.com.
About AmTrust Financial Services, Inc.
AmTrust Financial Services, Inc., a multinational insurance holding
company headquartered in New York,
offers specialty property and casualty insurance products,
including workers' compensation, business owner's policy (BOP),
general liability and extended service and warranty coverage. For
more information about AmTrust, visit
http://www.amtrustfinancial.com.
Media Contact
Colin Rice, NIP Group,
8666445361, crice@nipgroup.com, www.nipgroup.com
View original content to download
multimedia:https://www.prweb.com/releases/nip-group-and-amtrust-present-propanepro-the-next-level-in-business-insurance-for-propane-gas-distributors-302202414.html
SOURCE NIP Group