Washington D.C. (August 17, 2020) – Ullico Casualty Group, LLC announced an agreement to collaborate with NFP, a leading insurance broker with expertise in the construction industry, to offer insurance and bonding programs tailored to the needs of developers and contractors.
Ullico Casualty Group and NFP, through the joint ventured Construction Risk Services portfolio, aim to provide Wrap-Ups, Surety Bonds, and other insurance policies that construction projects typically need. Among the unique features that may be available to customers is an Alternative Dispute Resolution clause that allows for contractors and developers to effectively manage rising insurance costs while utilizing skilled labor.
Ullico's real estate investment vehicle, "J for Jobs," has a long history of as a financing source throughout the United States for construction projects that employ union-friendly contractors," said Edward M. Smith, President and CEO of Ullico. "The partnership with NFP provides another opportunity for us to deliver value to the developers of these projects and serve the American labor movement."
"We look forward to teaming up with Ullico to combine their long-term relationships with our insurance expertise to create a lasting program that delivers real value to customers," says Henry Lombardi, Executive Vice President, Property and Casualty, of NFP.
For more than 90 years, Ullico has been a proud member of the labor movement, keeping union families safe and secure. From insurance products that protect union members, leaders and employers, to investments in building and infrastructure projects that have created thousands of union jobs, our customers continue to trust us with protecting their families, employees and investments. The Ullico Inc. Family of Companies includes: The Union Labor Life Insurance Company; Ullico Benefit Solutions; Ullico Casualty Group, LLC; Ullico Investment Company, LLC; and Ullico Investment Advisors, Inc. For additional information, visit www.ullico.com.
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 5,600 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, 6th largest US-based privately-owned broker, and 8th best place to work in insurance (Business Insurance); 10th largest property and casualty agency (Insurance Journal); and 12th largest global insurance broker (Best's Review).
Visit NFP.com to discover how NFP empowers clients to meet their goals.