Kansas City, Mo.-based Rockhill Insurance Company said it has acquired National Environmental Coverage Corporation, which writes environmental insurance coverage. Terms were not announced.
The Rockhill Group offers general liability, umbrella, property, earthquake and workers’ compensation insurance.
Rockhill said that NECC, with offices in New York and Louisiana, has been a pioneer in underwriting environmental risks since 1989, specializing in liability coverage for restoration contractors, mold contractors, environmental contractors and consultants, and waste facilities throughout the United States.
Rockhill Chief Executive Officer Terry Younghanz commented, “We have long been interested in the environmental market,” and added that the company would “be a perfect fit within the Rockhill Group.”
He mentioned, “Being held to a six-month cancellation provision by the prior carrier has actually been a blessing, because it gave us time to really examine the market and to retool, refocus and improve upon the products NECC will offer.”
The company is “excited about rolling out the Rockhill product on July 31st,” said Joe Greenwald on behalf of NECC.
Mr. Greenwald added, “Rockhill’s flexibility and entrepreneurial spirit will allow us to even better serve the environmental market and broaden our capabilities by developing new and exciting products.
“Going from an independent MGU platform to a direct insurance company affiliation will allow NECC to more quickly respond to the unique situations that arise in this business and properly underwrite the individual risk. This is definitely a ‘win-win’ for both our companies and for the environmental insurance market.”