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Friday, 07 February 2014 00:43

NSM Insurance Acquires Collector Car Insurer

NSM Insurance Group has acquired American Collectors Insurance of Cherry Hill, NJ, a 40-year-old insurer of collector cars and other collectibles. Terms were not disclosed.

NSM, a national commercial P&C insurance program administrator based in Conshohocken, Pa., specializes in the development and implementation of industry-specific insurance programs across the U.S. The company will triple its collector car business with this acquisition, according to NSM.

“We are looking forward to growing and expanding American Collectors,” said Geof McKernan, CEO of NSM Insurance Group.

NSM underwrites more than 20 admitted and non-admitted insurance programs nationally. In addition to collector cars, other niche markets the company serves are coastal condominium associations, social service, hospitality, professional liability for lawyers and dentists, construction and workers compensation.

In a statement, NSM said it is “aggressively seeking” to acquire additional collector car businesses, program managers and niche specific insurance businesses.

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