“Under Dave’s leadership the NIP Programs division has expanded its product portfolio from one to eleven national programs while achieving the Best Practices Designation from the Target Markets Program Administrators Association.” stated Richard Augustyn, CEO.

“We are delighted that Dave will be expanding his contributions to the entire NIP Group while maintaining direct responsibility for the Programs division. His brilliance and extensive career accomplishments are exactly what NIP Group needs to accelerate our ability to deliver innovation, high-growth and operational excellence that will benefit  our insurance carrier and broker partners. Dave’s promotion illustrates the depth of talent on the NIP management team.”

Prior to joining NIP Group Mr. Springer held senior executive positions with AmTrust Financial Services, Inc. (NASD: AFSI) and Prudential Insurance Company (NYSE: PRU). Mr. Springer is a member of several industry associations and is the President Elect and member of the Board of Directors of the Target Markets Program Administrators Association.

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Woodbridge, NJ (PRWEB) April 5, 2012 – NIP Programs, a division of NIP Group, Inc., is pleased to announce enhancements to its FuneralPro™ program, a specialty insurance program designed specifically to serve the death care industry nationwide. Originally launched in 2009, FuneralPro is designed to be one of the most comprehensive insurance programs available for funeral directors and other death care professionals. The current enhancements increase important coverage limits in New Jersey and Pennsylvania; other states will follow. NIP Programs is a leader in the design and management of specialty business insurance programs, ranked among the top 100 in the nation.

“We’re pleased to be able to add these coverage enhancements to FuneralPro,” said David Springer, President of NIP Programs. “Businesses serving the death care industry are unique and can be very complex to insure, and the increased coverage limits provide more value to our independent brokers and greater security to our insureds. The FuneralPro program covers property, business autos such as limos and hearses, and a variety of specialized equipment that is used within this industry. In addition, it also covers professional liability, personal effects and the property of others… it even covers pollution liability. It’s a high-quality, specialized and customizable insurance solution for these unique businesses, and provides the insured with better protection while saving them money.”

The FuneralPro program offers standard business coverages, such as General Liability and Property through a Business Owners Policy (BOP) format, along with a host of optional enhancements, including Business Auto, Equipment Coverage, Professional Liability, Errors & Omissions (E&O), Directors & Officers coverage (D&O), Employment Practices Liability Insurance (EPLI), and more. The program even offers Umbrella Liability and Workers’ Compensation coverage. FuneralPro is underwritten in partnership with a carrier partner that’s rated A (Excellent) by A.M. Best.

“FuneralPro was designed to be the most competitive and comprehensive coverage serving the death care industry,” Springer said. “We can help brokers to custom-tailor a policy that perfectly fits the needs of their client’s business, so their clients can focus on what they do best: providing service and support during a difficult time.”

For more information on the FuneralPro program or to obtain a Broker Kit, call 1(800) 446-7647 ext. 291 or email program manager Jason Migdon at jmigdon@nipgroup.com.  Submissions can be sent to NIProSub@nipgroup.com or faxed to (732) 791-4097.

About NIP Programs

NIP Programs, a division of NIP Group, Inc., is a leading U.S. specialty insurance program manager operating in all states. NIP Group, Inc. is a specialized business insurance and risk management intermediary, ranked among the largest 100 in the United States and providing a wide range of brokerage, underwriting, and risk management services to select market segments.

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Results Indicate The Market Is Hardening

February 20th, 2012 (Woodbridge, NJ) — NIP Group, Inc. released the results of the Transportation Insurance Pricing Survey (TIPS™) for the fourth quarter of 2011. The survey was issued to leading transportation insurance brokers, wholesalers and underwriters representing thousands of account placements and is used to benchmark changes in the availability and rates in the transportation insurance market.

Survey results indicate that the majority of respondents feel that the Transportation market is beginning to firm. Participants also believe that fewer non-specialty carriers are chasing Transportation premium.

Respondents report that small accounts were beginning to see some rate lift. This trend is now beginning to be seen in medium and large sized accounts.

The survey also measures premium changes across ten different transportation segments including:

■   Trucking Operations                          ■   Intermodal Carriers

■   Messenger/Courier Services              ■   Ambulance/Paratransit

■   School Bus Contractors                    ■   Bulk Transportation

■   Airport Ground Transportation           ■   Charter/Tour Bus Operators

■   Specialized Carriers & Riggers          ■   Limousine Services

There is a universal belief that all segments except heavy equipment & riggers and messenger/courier have had increased rates quarter over quarter. Participants believe that airport ground is relatively flat since the last quarter. From a line of business perspective, no line of business has lost rate to last quarter, and all lines have experienced gains quarter over quarter. Movement not confined to any one line of business as with the previous quarterly comparison (2Q11 vs. 3Q11). Motor Truck Cargo, Warehousemen’s Legal and Owner/Operator lines are reported flat to last quarter.

“All signs now point to a firming Transportation market with the core lines of Auto Liability and Workers Compensation leading the way”, said Richard Augustyn, CEO of NIP Group, Inc. “The survey confirms what most transportation market participants already know non-specialty insurers are starting to step back from underwriting the class of business and specialists are seeking higher rates across the board.”

Detailed results can be downloaded at: http://www.nipgroup.com/corporate/tips-results-q4-2011/

About NIP Group, Inc.

NIP Group, Inc. is a specialized business insurance and risk management intermediary, ranked among the largest 100 in the United States and providing a wide range of brokerage, underwriting and risk management services to select market segments.

CONTACT:

Debra Mirabella

PHONE: 1-800-446-7647 ext. 211

EMAIL: dmirabella@nipgroup.com

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Healthcare Providers are facing a rapidly changing regulatory and technological environment. The frequency, severity and overall complexity of cyber attacks are increasing at a concerning rate. The cost to an organization that suffers a privacy breach are constantly increasing. Are you and/or your clients properly protected for this changing environment?

The Federal Government, along with State Medicaid agencies, have began aggressively pursuing physician practices for billing violations. Rightfully so, providers are concerned about what this increasing regulatory environment means to them.

NAS, a leading provider of Cyber/Privacy insurance, in conjunction with NIP Specialty Brokerage, will be hosting a webinar to discuss these exposures, the increased regulatory environment, and what you can do to address them.

“Beyond Med Mal: Increased Regulatory Oversight and a Changing Environment Pose New Threats to the Solvency of Your Practice,” will be presented on December 6, 2011 at 2 p.m. (EST). Space is limited.

Please click on the following link to register for the webinar: https://www1.gotomeeting.com/register/399183616.

You will receive a confirmation email with log-in instructions once you have registered.

“NIP Specialty is proud to partner with NAS to offer this timely information,” said Anne-Marie Dolinac, Assistant Vice President of NIP Specialty Brokerage.

“NAS Insurance Services understands the evolving perils healthcare providers now face as the Federal Government aggressively pursues an estimated $55 billion in improper billings committed each year. NAS responds to this need with coverage for both defense and fines and penalties attributable to allegations of improper billing, HIPAA Privacy, Stark and EMTALA violations. Together with NIP, NAS welcomes this opportunity to discuss these exposures, as well as the unique protection it offers in an increasingly regulatory environment.”

For more information on NIP Specialty, call 1-800-446-7647, ext. 515. To submit business, you may email NIPSpecialty@NIPGroup.com, or fax to 732-634-2904.

About NIP Specialty Brokerage
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, Inc. is a specialty insurance intermediary, ranked among the largest 100 in the United States and providing a wide range of brokerage, underwriting and risk management services to select market segments.

About NAS Insurance Services
Founded in 1975, NAS Insurance Services was the first to conceive of insuring businesses for legal expenses related to numerous perils they experience – a type of coverage not provided by typical liability insurance at the time. NAS offers a full spectrum of specialty products on wholesale, program and reinsurance bases for: Abuse/Molestation, Cyber Liability, Network Security, Technology Liability, Social Services, MEDEFENSE™ Plus, HIPAA Protector, Miscellaneous E&O, Tenant Discrimination Insurance, Sexual Misconduct Liability, Allied Healthcare, Non-Standard Physicians, Tax Audit and Miscellaneous Medical Malpractice.

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Rates Are Increasing With Visible Acceleration in Core Lines of Business  

November 18th, 2011 (Woodbridge, NJ) — NIP Group, Inc. released the results of the Transportation Insurance Pricing Survey (TIPS™) for the third quarter of 2011. The survey was issued to leading transportation insurance brokers, wholesalers and underwriters representing thousands of account placements and is used to benchmark changes in the availability and rates in the transportation insurance market.

Survey results indicate that the majority of respondents feel that the rates are increasing with visible acceleration. Participants also observe that fewer non-specialty carriers are chasing Transportation premium.

 Respondents report that transportation accounts are experiencing premium increases, quarter over quarter, across all account sizes. This trend is more pronounced in small and medium sized accounts.

The survey also measures premium changes across ten different transportation segments including:

■   Trucking Operations                          ■   Intermodal Carriers

■   Messenger/Courier Services              ■   Ambulance/Paratransit

■   School Bus Contractors                    ■   Bulk Transportation

■   Airport Ground Transportation           ■   Charter/Tour Bus Operators

■   Specialized Carriers & Riggers          ■   Limousine Services

There is a universal belief that most segments have experienced increased rates quarter over quarter. From a line of business perspective, participants report that none of the coverage lines included in the survey have experienced rate reductions compared to last quarter. Motor Truck Cargo, Warehousemen’s Legal and Owner/Operator lines are reported flat to last quarter.

 “All signs now point to a firming Transportation market with the core lines of Auto Liability and Workers Compensation leading the way”, said Richard Augustyn, CEO of NIP Group, Inc. “The survey confirms what most transportation market participants already know non-specialty insurers are starting to step back from underwriting the class of business and specialists are seeking higher rates across the board.”

About NIP Group, Inc.

NIP Group, Inc. is a specialized business insurance and risk management intermediary, ranked among the largest 100 in the United States and providing a wide range of brokerage, underwriting and risk management services to select market segments.

CONTACT:

Debra Mirabella

PHONE: 1-800-446-7647 ext. 211

EMAIL: dmirabella@nipgroup.com

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“As the result of another successful year – and consistent with our no-profit objective – Conventus is delighted to announce that its members will share in a record return of nearly $3 million – 75 percent of the past year’s profits,” said Conventus President Lyn Winters.

“We are extremely excited about today’s great news. This announcement makes Conventus’ value proposition even more clear, credible and compelling to current and prospective members and their insurance brokers,” she added.

Dr. Albert Talone, Chairman, Conventus Board of Governors, shares the excitement over this achievement.

“As a physician-owned and governed company, Conventus members can be comforted knowing that this exchange always put their best interests first. From sharing profits to vigorously defending claims made against them, Conventus members will always benefit from the unique resources and unwavering commitment of 1,100-plus New Jersey physicians joining together to help each other. In today’s fast-evolving world of modern medicine, this mutual association of physicians stands out for being truly physician-centric. It is my privilege to be associated with such a fine organization,” Dr.Talone said.

About Conventus
Conventus Inter-Insurance Exchange is the only medical professional liability insurance company in New Jersey that is 100 percent owned and governed by its physician members. Formed in response to New Jersey’s medical professional liability insurance crisis, Conventus is a non-assessable reciprocal insurance exchange that is managed by experts in the property and casualty insurance industry. Its management team has extensive experience in medical professional liability insurance and in managing underwriting results for companies like Conventus.

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“And 38.8 percent say the market is soft or softer (see charts), according to those taking part in the Transportation Insurance Pricing Survey (TIPS) foer the 2011 second quarter, conducted by specialized business-insurance and risk-management intermediate diary of NIP Group Inc. of Woodbridge, N.J.”

To View a pdf of the article containing the entire quote, please click here.

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NIP Programs, a division of NIP Group, Inc. and a leader in the design and management of specialty insurance programs, today announced a PetPro webinar designed to educate brokers about opportunities in the pet professional market. PetPro (http://www.PetProInsure.com) is a first-of-its kind, one-stop, complete insurance and risk management solution to protect pet care professionals and their businesses.

The webinar will be held Wednesday, Oct. 5, 2011 at 12:30 p.m.

Brokers can register for this free webinar HERE.

“Opportunities are growing in the pet care industry, with pet owners spending ever more money on products and services such as specialty pet foods, pet clothing and daycare,” said Kelly Spencer, PetPro Program Manager and webinar presenter. “As veterinary hospitals upgrade to more specialized equipment and more professionals are involved in a pet’s day-to-day life, there is increased risk for pet care professionals and increased opportunities for insurance agents and brokers.”

The PetPro webinar will introduce brokers to this increasing complex yet rewarding market, equipping them with knowledge such as:

•     Pet care industry trends
•     Risks and exposures unique to pet professionals
•     The coverages and risk management solutions that PetPro offers

Get more information on the PetPro program by contacting Kelly Spencer at 800-446-7647, ext. 386 or visiting http://www.PetProInsure.com.

To keep up with the latest news and information about PetPro, visit Facebook (http://www.facebook.com/petprogivesback) or follow them on Twitter at http://www.twitter.com/PetProNIP.

About NIP Programs
NIP Programs, a division of NIP Group, Inc. (http://www.nipgroup.com/programs), is a leading U.S. Specialty insurance program manager operating in all states. NIP Group, Inc. is a specialized business insurance and risk management intermediary, ranked among the largest 100 in the United States and providing a wide range of brokerage, underwriting and risk management services to select market segments.

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Although many companies do not believe they need to be concerned about cyber liability, the reality is that any entity that houses or exchanges electronic data, any company with a website, and any organization that conducts business online is subject to the devastation that comes from cyber crime.

According to recent studies, cybercriminals are now going toward the low-hanging fruit, rather than large-scale, difficult attacks, and are finding success using relatively unsophisticated methods to penetrate organizations.

“To put this into perspective, organizations, on average, fall victim to 1.4 successful cyber attacks per week — and roughly 80 percent of all companies will experience at least one data-related violation each year,” said Dean Mortilla, President of NIP Specialty Brokerage. “As the cyber liability coverage continues to evolve, we are proud to be the exclusive partner of RLI Insurance in providing this important coverage to public entities.”

Small to midsized companies are now being especially targeted, due to their vulnerability and lack of strong security systems. Given this rapidly shifting threat environment, it is critical that all companies, big and small, carry this valuable and important coverage.

“RLI and NIP Group look forward to an exclusive partnership to develop a comprehensive cyber liability product for the public entity sector,” said Brian Flynn, Vice President, Professional and Cyber Liability Executive Products Group, RLI Insurance Company.

We at NIP Specialty welcome the opportunity to discuss a risk with you. Tap into our expertise and wide market access for the best quotes and the most comprehensive service.

NIP Specialty Brokerage is focused on, but not limited to, the following industries: Retail, Publishing, Financial Services, Healthcare, and Technology.

For more information on NIP Specialty, call 1-800-446-7647, ext. 515. To submit business, you may email NIPSpecialty@NIPGroup.com, or fax to 732-634-2904.

About NIP Specialty Brokerage
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, Inc. is a specialty insurance intermediary, ranked among the largest 100 in the United States and providing a wide range of brokerage, underwriting and risk management services to select market segments.

About RLI Insurance Company
RLI, a specialty insurance company, offers a diversified portfolio of property and casualty coverages and surety bonds serving niche or underserved markets. RLI operates in all 50 states from office locations across the country. RLI’s insurance subsidiaries – RLI Insurance Company, Mt. Hawley Insurance Company and RLI Indemnity Company – are rated A+ “Superior” by A.M. Best Company and A+ “Strong” by Standard & Poor’s. RLI is recognized as one of the insurance industry’s top performing companies by the Ward’s 50® Top P&C Performers and has been a member of the group for 20 straight years since its inception in 1991.

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August 24th, 2011 (Woodbridge, NJ) — NIP Group, Inc. published the results of the Transportation Insurance Pricing Survey (TIPS™) for the second quarter of 2011. The survey was issued to leading transportation insurance brokers, wholesalers and underwriters representing thousands of account placements and is used to benchmark changes in the availability and rates in the transportation insurance market.

Similar to last quarter’s results the general consensus of survey respondents is that the market has stabilized and has reached a point of equilibrium rate increases and decreases, where they exist, occur with similar frequency.. Respondents continue to observe that the rate at which non-specialty insurance carriers are entering the transportation market is decreasing at the same frequency as last quarter.

Survey participants report that rates for small and larger accounts have not changed much in the past three months. However mid-sized accounts are showing shrinking premiums compared to last quarter.

The survey also measures premium changes across ten different transportation segments including:

■   Trucking Operations                              ■   Intermodal Carriers

■   Messenger/Courier Services               ■   Ambulance/Paratransit

■   School Bus Contractors                        ■   Bulk Transportation

■   Airport Ground Transportation             ■   Charter/Tour Bus Operators

■   Specialized Carriers & Riggers           ■   Limousine Services

When looking at the results by segment, results indicate that the market is indeed in a state of transition. Some respondents believe that the market is hardening, and some people believe that it is softening, but the belief is uniform across segments.

From a line of business perspective, results are in line with those by segment, in that the number of people who believe the rates are increasing is offset by the number of people who think they are decreasing. The only notable exception is with the Umbrella line which is considered to be hardening.

“Overall TIPS results for the past two quarters indicate that survey respondents continue to believe the market is improving from where it was a couple of years ago but we seem to be in a transitional period where not much has changed since last quarter, saidRichard Augustyn, CEO of NIP Group, Inc. “After three years of conducting the TIPS survey, it has been interesting to watch the evolution of the market. We will have to wait and see if this positive trend continues.”

About NIP Group, Inc.

NIP Group, Inc. is a specialized business insurance and risk management intermediary, ranked among the largest 100 in the United States and providing a wide range of brokerage, underwriting and risk management services to select market segments.

CONTACT:
Debra Mirabella
PHONE: 1-800-446-7647 ext. 211
EMAIL: dmirabella@nipgroup.com

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