NSM Insurance Group of Conshohocken, Pa. is buying the coastal condominium, hotel and motel insurance program of Reich Insurance Associates, announced Geof McKernan, chief executive officer of NSM.
CHAMP, as the program is known, offers a specifically developed coverages packaged in one policy form. Coverages with an A+ rated carrier include those for buildings, wind damage, boiler and machinery, contents, general liability, business income, crime, and directors and officers. Flood coverage is also available.
Barry Reich, president of Reich Insurance Associates, is staying on with NSM Insurance Group as the director of new business opportunities.
NSM’s insurance products and services are distributed both directly to clients and through a network of agents and brokers. NSM Insurance Group has been in business over 35 years and reports writing $225 million in premium annually.