Friday, September 9, 2022
HomeInsurance LawInsurance coverage dealer NFP acquires Quantum Danger Options

Insurance coverage dealer NFP acquires Quantum Danger Options


Property and casualty dealer NFP has purchased Quantum Danger Options, a managing basic underwriter (MGU) and wholesaler, for an undisclosed sum.

US-based Quantum helps the transportation trade with a number of danger options.

Its focus areas embrace auto transporters, towing/collateral restoration, nonemergency EMT and specialty haulers.

Aside from providing a variety of coverages to its purchasers, the agency leverages its experience in telematics to trace and gather knowledge from particular person autos and fleets.

NFP expects the acquisition to develop its MGU and managing basic agent (MGA) division within the transportation sector.

As a part of the transaction, Quantum president George Karlis will transfer to NFP and report back to NFP MGA/MGU Packages managing director Tom Gillingham.

 Gillingham mentioned: “I’m thrilled to welcome George and the Quantum Danger Options staff to NFP.

“Buying Quantum aligns with our technique to develop our MGA/MGU platform and brings refined business transportation underwriting capabilities to an area the place NFP has a rising retail presence.

“NFP additionally beneficial properties an skilled underwriting chief within the transportation section in George Karlis, whose experience raises the bar for our enterprise.”

Karlis mentioned: “I’m very excited to hitch NFP, work with Tom and the staff, and complement NFP’s present capabilities within the transportation sector.”

“Becoming a member of the NFP household creates quite a lot of alternatives for our companions, purchasers and staff who can all profit from NFP’s scale and assets.”

In July this 12 months, NFP launched a captive administration agency in Alberta, Canada after the enactment of the Captive Insurance coverage Corporations Act in Alberta. It permits NFP to kind and administer Alberta-domiciled captive insurance coverage corporations for purchasers.

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