Success Stories

Account: Roofing Contractor (FL)
Lines: Pay-as-you-go Workers’ Compensation
Limits: $500,000 / 500,000 / 500,000
Premium: $27,000
This contractor specializes in residential and commercial roofing. The client did not have strong cash flow due to lack of work so NIP Specialty Brokerage came up with a solution that offered a “pay as you go” Workers’ Compensation plan. This solution allows the insured to pay premiums based on reported payrolls on a month-to-month basis.
Account: Inspection and Engineering Corporation (FL)
Lines: General Liability/Professional Liability
Limits: $1,000,000/$2,000,000/$2,000,000
Premium: $38,000
This engineering firm does non-destructive testing and inspections for the aircraft, petrochemical and power plant industries. NIP Specialty Brokerage secured a market willing to offer Primary/Non Contributory coverage and Ongoing completed operations coverage. The carrier also included a designated premises pollution limit.
Account: 100% Paper GC (NY)
Lines: General Liability
Limits: $1M / $2M
Premium: $50,000
This contractor specializes in residential and commercial renovations in New York City. All work is 100% sub-contracted and the client was looking for reduced premium and rates. Expiring premium was $65,000. We contacted one of our A rated carriers and were able to write it for $50,000 for the 10-11 period, saving the client $15,000.
Account: Drainage & Waterproofing Contractor (CO)
Lines: General Liability
Limits: $1,000,000/$2,000,000/$2,000,000
Premium: $50,000
This contractor specializes in waterproofing around homes and buildings. The account was non-renewed due to high percentage of residential work. NIP Specialty Brokerage secured a market willing to offer blanket additional insured coverage and blanket waiver of subrogation. The agent was able to offer the right terms with an A rated market that specializes in contractors within that territory.
Account: Commercial Steel Fabricator of Stairs & Rails (NJ)
Lines: GL & Umbrella
Limits: $1M / $2M GL and $10M Umbrella
Premium: $25,000 (GL) and $36,162 – $10M (Umbrella)
This account was with an admitted carrier when we were contacted to re-market it.  NIP Specialty was able to place the account with an E&S on an admitted paper as the risk was domiciled in NJ. Not only was NIP Specialty able to provide the insured $12,000 in premium savings from last year, but we also were able to provide an additional savings of 5% of NJ Sales Tax.
Account: Steel Erector & Welding (PA)
Lines: GL & Umbrella
GL Limits: $1,000,000/$2,000,000 Premium: $36,000
Umbrella Limits: $3,000,000 Premium: $26,500
The risk is located in Pennsylvania where the applicant performs steel erection, plank erection and welding. This was a new account to an active broker who came to us with exactly what was needed to bind the account. Due to our strong relationships with A rated carriers, we were able to secure the exact coverage, limits and premium necessary to help this agent win the account.
NIP Group, Inc. 900 Route 9 North | Suite 503 | Woodbridge, NJ 07095-1003 | 800.446.7647