SC&RA Insurance Carrier Announces Merger
As reported in a recent edition of the SC&RA Newsletter, Nations Builders Insurance Services (NBIS) and Special Risk Services Group, LLC (SRS) will join forces. For more than 11 years, SRS has exclusively administered SC&RA's member insurance program, becoming the largest and most experienced insurance service provider in the crane/rigging and heavy haul transportation industry. Under this merger, SRS will be operating as TurnKey Specialty Insurance Services, Inc.
According to SC&RA Executive Vice President Joel Dandrea, this merger presents a number of advantages to members, including:
- By turning over administrative operations to NBIS, SRS staff will have approximately 35% more time for market developments, as well as for the risk management and educational components of the program.
- NBIS is willing to take financial risks and is committed to long-term investment into the SC&RA program.
- NBIS has pledged to aggressively pursue new markets to provide SC&RA members with additional insurance options.
- The merger provides an opportunity to build a risk retention group for SC&RA.
Kevin Cunningham will continue to lead the organization as president and chief executive officer of SRS, while assuming the additional title of senior vice president of NBIS. "Aligning with NBIS gives SRS the ability to deliver a broader array of services to our clients, to meet their ever-changing insurance and risk mitigation needs," Cunningham said. "Our goals are to strengthen our leadership position in the crane/rigging and specialized transport insurance marketplace, and to assist NBIS in the continued achievement of its dynamic growth objectives."
Other key appointments under the merger include:
- Mike Leamancyzk is now executive vice president-underwriting for TurnKey Specialty Insurance Services, Inc.
- Dick Marshall, president-CEO of NBIS' wholly owned subsidiary Camelback Captive & Risk Management Services, Inc., has also assumed the responsibilities of executive vice president of TurnKey with a particular emphasis on business development projects.
- Tim Conlon is senior vice president-claims and risk mitigation of TurnKey, as well as president of Claims Adjusting Services, Inc., NBIS wholly owned claims management company.
- Jim Jinhong assumes the title of vice president-casualty, within TurnKey.
TurnKey Specialty Insurance Services, Inc. is a program management firm composed of five divisions: heavy construction, specialized transportation, custom brokerage, risk mitigation, and residential contractors. Camelback Captive & Risk Management Services, Inc. is a wholly owned NBIS subsidiary specializing in the alternative risk arena through the creation and management of captives and risk retention groups. Headquartered in Atlanta with offices in Palm Desert, Calif., Middletown, N.J., and now Chicago, NBIS can better meet the risk management needs of its growing clientele. For more information, visit www.nbis.com.