Subscribe to our newsletters & stay updated
The National Association of Wholesaler-Distributors (NAW) has announced an exclusive partnership with Gallagher and Liberty Mutual to provide specialized insurance solutions for the distribution industry. The Gallagher Margin Protect for Distributors, endorsed by NAW program, will launch nationwide and features a highly-tailored suite of products to help wholesaler-distributors manage the cost of operations and mitigate risk.
The Gallagher Margin Protect for Distributors will include a dividend-based workers' compensation plan that will return premium dollars to companies that experience fewer losses and practice better loss control. The program will also include property and casualty insurance products designed specifically for wholesaler-distributors with features and benefits currently unavailable in the marketplace.
"For years, wholesaler-distributor risks have not been well understood by the insurance industry, with few products that address our complex risk-management challenges," said NAW President and CEO Eric Hoplin. "What Gallagher and Liberty Mutual are bringing to the table is a game-changer; distributors will now have access to a suite of specially-tailored insurance products that will help them manage both the risk and cost of operations more effectively. As the insurance market continues to harden, our partnership is well timed to meet that challenge with innovative solutions."
"Gallagher understands the challenges and specific risks of the industry, which puts us in a position to be able to design a product that offers key and unique benefits to the wholesaler-distributor program such as workers' compensation dividend, E&O coverage, comprehensive cargo stock throughput and an umbrella coverage," added Mike Pesch, president, Gallagher Global Brokerage Americas, and CEO, Gallagher Global Brokerage U.S. "By working with NAW and Liberty Mutual, we're able to bring to market an exclusive best-in-class product for best-in-class wholesaler-distributors and help them make informed and confident decisions, especially in a challenging market."
"Liberty Mutual is proud to offer customized and competitive insurance solutions to the country's best-in-class wholesalers," said Matt Waters, executive vice president, Middle Market, Liberty Mutual. "Through this partnership, NAW members will benefit from Liberty's deep understanding of wholesale risks, comprehensive and tailored coverages, industry-leading claims and risk control services, and other value-add offerings."
The announcement is the result of a longtime partnership between Gallagher and NAW and the common interest in finding specialized coverage for wholesaler-distributors at a better cost.