NSM Insurance Group Acquires TranSpec of Tennessee
NSM Insurance Group, the national leader of industry-specific insurance program administration, announced Tuesday that it has acquired TranSpec, a highly specialized transportation insurance broker located in Nashville.
TranSpec specializes in designing and implementing insurance programs for trucking firms that utilize owner operators. The program coverages include, non-trucking liability, physical damage and occupational accident for owner-operators.
According to Bill McKernan, president of NSM Insurance Group, NSM has provided motor carriers and owner operators insurance programs for more than 20 years and the addition of TranSpec and its team will bring NSM new growth opportunities in this business.
NSM Insurance Group focuses on the development, implementation, marketing and underwriting of industry-specific insurance programs with more than $500 million in annual premium. The company’s insurance programs include social services and behavioral health; CAT driven property; collector cars; workers’ compensation; sports and fitness; microbreweries; and professional liability for architects and engineers. NSM Insurance Group is aggressively seeking to acquire additional niche specific insurance businesses and program managers.