Norman-Spencer Agency, Inc., a national property and casualty insurance provider, has launched a new nonprofit division. This division offers three programs — Food Distribution & Thrift Stores, Foundations & Grant Making, and Housing & Shelters.
Coverage lines being provided by the nonprofit division are property, inland marine, crime, auto, cyber, directors & officers liability, equipment breakdown & data compromise, accident & health, and umbrella up to $15 million. Enhancements include separate general liability limits, professional liability limits of $1 million/$3 million, unlimited defense limits, social service broadening endorsements, and abuse or molestation.
Norman-Spencer will donate 50 percent of its divisional profits from these programs to nonprofit organizations.
NS Cares is a non-profit foundation established in 2015 to provide opportunities for Norman-Spencer employees to live a culture of caring by helping others through volunteering, donating and fundraising. Norman-Spencer said the experience its employees have with NS Cares has provided them with a detailed understanding of the coverages nonprofits need.
The Nonprofit Division programs are available nationwide and are on admitted paper.
Norman-Spencer provides insurance services to clients and insurance buyers nationwide with over 10 proprietary in-house property and casualty insurance programs covering industries like marine, transportation, construction, watercraft and professional lines.
Topics Profit Loss
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