ProBuilders Enters N.E. Contractors’ Insurance Market

February 17, 2005

ProBuilders Specialty, a risk retention group managed by NationsBuilders Insurance Services, has entered a number of the New England states to offer contractors’ general liability coverage. The program will be offered through NBIS preferred wholesaler Conifer Insurance Agency of Peabody, Massachusetts.

ProBuilders Specialty Insurance Company has been a market for building and trade contractors in the western United States and now is in the process of expanding to the eastern states. The program will be available for selected building contractors and trades in Massachusetts, Connecticut, Rhode Island and New Hampshire. The company said it plans to expand into the other New England states by the end of the second quarter of 2005.

“Independent insurance agents and brokers have been struggling to place coverage for residential general contractors over the past several years as a result of the issues that developed in California. Now we have the ability to offer our clients an insurance policy that was designed for the building contractors” stated Brian McCarthy, managing director of Conifer.

Conifer said it will establish a network of insurance agents and brokers in New England to provide risk management, loss prevention and insurance brokerage.

“The current environment with limited insurance providers and restricted coverage requires insurance agents and brokers to provide risk management services in conjunction with insurance placement services. Insurers, in order to maintain financial stability, had to offer insurance contracts that restricted coverage for these risk exposures. As a result, it is critical for insurance agents and brokers to discuss these restrictions and address the management of such exposures. Conifer understands and believes in those same principals and will be working with local independent agents around New England to provide those critical services to the construction industry”, said Peter H. Foley, president of NationsBuilders Insurance Services.

ProBuilders Specialty Insurance Company is a Washington D.C. domiciled risk retention group owned by over 4,200 contractors and is registered in mo than 30 states. It is managed by NationsBuilders Insurance Services with offices in Atlanta, Georgia and Palm Desert, California. ProBuilders underwrites general liability for most classes of contractors including residential developers and general contractors. ProBuilders is endorsed by The Alaska Homebuilders Association, Colorado Association of Homebuilders, Southern Arizona Homebuilders Association, Northern Arizona Homebuilders Association, Western Nevada Homebuilders Association, Tennessee Homebuilders Association and the San Diego Roofing Association. Demotech, a financial rating services company, has given Pro Builders an “A” Rating for “Exceptional”.

NationsBuilders Insurance Services is the exclusive program manager for ProBuilders Specialty Insurance Company.

Topics Agencies Trends Market New Markets Contractors

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