NIP Group is a specialized business insurance and risk management intermediary ranked among the 100 largest in the United States. Known for our entrepreneurial spirit, ability to innovate and unique depth of knowledge in key markets, our experienced employees provide a wide range of brokerage, underwriting and risk management services to numerous industries. NIP Group has more than 150 employees headquartered in Woodbridge, NJ and draws upon the expertise of highly talented business partners throughout the country and abroad to meet the needs of its clients.
NIP Group is structured into three complementary business units:
NIP Programs develops and manages business insurance programs underwritten by major insurers for industries with specialized insurance and risk management needs, and whose markets to meet such needs are typically fragmented. NIP Programs uses its deep industry knowledge to develop unique underwriting, loss control and claims service models highly valued by both clients and insurers. NIP Programs is a proud recipient of the prestigious Best Practice Designation from Target Markets Program Administrators Association.
NIP Specialty Brokerage is a wholesale brokerage operation targeting non-standard commercial risks underwritten by admitted and non-admitted specialty carriers. NIP Specialty Brokerage assists agents/brokers in the structure and placement of complex insurance risks throughout the United States by accessing NIP’s brokerage expertise and relationships with global insurance markets.
NIP Group Captive Management division enables business professionals in a common industry or entities with homogeneous risk characteristics, who are experiencing severe difficulty securing affordable and/or comprehensive insurance coverage, to form an association in order to share risk as an alternative cost-efficient manner to purchase commercial insurance. The primary benefits are to gain control over the availability and cost of insurance and avoid the pitfalls, peaks and valleys of insurance coverage and premiums as dictated by commercial insurers. NIP Group Captive Management develops and manages these alternative insurance programs and provides the essential operational expertise.
The risk sharing groups developed and managed by NIP Group are: Conventus Inter-Insurance Exchange, a physician owned and governed medical professional liability insurance reciprocal exclusive to New Jersey physicians and surgeons and the Garden State Municipal Joint Insurance Fund (GSMJIF), a property and casualty fund serving New Jersey municipalities.