NSM Insurance Group, a national insurance program administrator based in Conshohocken, Penn., announced its acquisition of American Collectors Insurance in Cherry Hill, N.J.
NSM Insurance Group said the acquisition of American Collectors Insurance, a provider of specialty insurance for collectibles and collector vehicles, triples the collector car business NSM Insurance Group currently insures. American Collectors Insurance has been insuring collector cars and other collectibles for over 40 years.
NSM Insurance Group underwrites over 20 admitted and non-admitted insurance programs nationally in specific niche markets. It has completed five acquisitions in the past three years and has eight offices across the country.
NSM Insurance Group said it is aggressively seeking to acquire additional collector car businesses as well as other program managers and niche specific insurance businesses. NSM Insurance Group’s insurance programs include collector cars, coastal condominium associations, social service, hospitality, professional liability for lawyers and dentists, construction and workers’ compensation.
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