NEW YORK – June 17, 2019 – NFP, a leading insurance broker and consultant that provides property and casualty (P&C), corporate benefits, retirement, and individual solutions, today announced the establishment of a controlled insurance program (CIP) vertical within their Construction Services practice. Often referred to as "wrap-up insurance," CIPs allow coverages for multiple insureds to be bundled into one consolidated program.
The Construction CIP Services team will be led by Chris Smith and Will Daniel, who will report to Henry Lombardi, executive vice president and head of NFP’s P&C division. Smith and Daniel bring nearly 50 years of combined construction insurance experience to the organization. Both have been at the forefront of the development and evolution of wrap-up insurance, leadership that led to their creation of a platform administering $4 billion in construction volume annually.
"We are thrilled to welcome Chris and Will to the NFP team. They are seasoned professionals with a true passion for construction insurance," said Lombardi. "Construction insurance is complex, competitive, and demanding, and Chris and Will consistently demonstrate an ability to thrive in this environment. Every project introduces new variables: different teams of contractors and subcontractors, varying construction laws across municipalities, and unique risks. CIPs allow us to assess each client’s individual needs, tailoring their policy to fit their unique specifications. With the expertise Chris and Will bring to NFP, our clients will have more control and potentially more savings over traditional insurance packages."
"Coordinating our construction resources under one vertical provides service efficiencies and advantages that result in meaningful value for our clients," said Smith. "This structure enhances our agility in the construction space so we can be more proactive and responsive in delivering personalized support and customized coverage."
NFP is a leading insurance broker and consultant providing customized property and casualty, corporate benefits, retirement, and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 5,100 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 5th largest US-based privately owned broker, 6th largest benefits broker by global revenue and 7th best place to work in insurance (Business Insurance); 10th largest property and casualty agency (Insurance Journal); and 12th largest global insurance broker (Best’s Review).