NFP Forms Sports and Entertainment Group, Combining the Capabilities and Relationships of Its Market Leading Subsidiaries
Expertise, resources and market access of BWD Sports & Entertainment and Team Scotti position NFP to advance its market leadership and deliver additional value to clients
NEW YORK – December 7, 2020 – NFP, a leading insurance broker and consultant that provides property and casualty (P&C), corporate benefits, retirement, and individual solutions, announced today the formation of a new Sports and Entertainment Group. The group brings together NFP subsidiaries BWD Sports & Entertainment and Team Scotti, both of which will be branded under the NFP name, as well as various other industry leaders within NFP, to offer a new level of collective capabilities and expertise. NFP continues to build out its specialty business through teams of focused experts who have strong technical competencies and market relationships that support the delivery of exceptional customized solutions.
The Sports and Entertainment Group represents 170 years of combined experience, billions of dollars in sports and entertainment risk covered, and a commitment to executing on innovative, solution-focused results for clients. Current clients include professional sports organizations across North America – including the NHL, MLB, the NFL, the NBA, the WNBA, the ATP and the WTA – as well as numerous individual sports franchises and nearly 12,000 professional athletes. NFP also serves the NCAA, as well as over 500 colleges and universities and more than 2,000 secondary/K-12 schools. Additionally, NFP provides insurance solutions to film studios, event producers and promoters, entertainers and performing artists, and executives of sports and entertainment-related organizations. With its presence in sports and entertainment, NFP has unmatched benchmarking capabilities and specialized market access, which provide the insight and tools required to design, implement and maintain coverage programs that effectively address its clients’ biggest challenges.
NFP’s capabilities cover the full spectrum of protection needs, encompassing all forms of contractual protection, including coverage for disability, death and loss of value, liability across a variety of scenarios (including media and cyber liability, crime coverage, employment practices, directors and officers), kidnap and ransom, event cancellation and other contingency products, player/employee benefits, property and construction, and workers’ compensation. The Sports and Entertainment Group’s team of actuaries, attorneys, claims specialists, and other insurance professionals continue to establish new markets by watching trends, listening to client challenges and collaborating strategically to create new opportunities, while enhancing effectiveness, communication, service and value. In addition, NFP provides a breadth of services to professional athletes, entertainers and entertainment executives through its Individual Solutions business, including wealth management, estate planning and business management services.
“NFP has a long history of offering significant value in the sports and entertainment space through our deep knowledge, specialized market access, unique capabilities and scaled resources,” said Doug Hammond, chairman and CEO of NFP. “With the official formation of this group, we will better connect our solutions with current and future clients, positioning our business for further growth and elevating awareness of our brand.”
“We’re excited to combine the strengths of BWD Sports & Entertainment and Team Scotti to create a powerhouse in the sports and entertainment space,” said Henry Lombardi, executive vice president and head of NFP’s P&C division. “Integrating these two successful firms – and expanding our reach with a consistent brand – will help drive our overall growth while benefiting a wide array of clients.”
NFP is a leading insurance broker and consultant providing specialized property and casualty, corporate benefits, retirement, and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of over 5,700 global employees, investments in innovative technologies, and enduring relationships with highly rated insurers, vendors, and financial institutions. NFP is the 5th largest benefits broker by global revenue, 5th best place to work in insurance and 6th largest US-based privately owned broker (Business Insurance); 9th commercial lines agency by P&C commercial lines revenue and 10th largest property and casualty agency (Insurance Journal); and 12th largest global insurance broker (Best’s Review).
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