Insurance Program and Coverages

NRMC provides its members with group Property and General Liability coverages through HUB International, Ltd., an insurance broker licensed in 50 states.  Our Program has been carefully structured to provide the most comprehensive coverages at the most cost effective rates.  To that end, insurance is placed through a number of carriers through multi-layered tiers.
 
The NRMC program provides its members with the following Group Insurance Coverages: 

Property - First-party insurance that indemnifies the owner or user of property for its loss, or the loss of its income-producing ability, when the loss or damage is caused by a covered peril, such as fire or explosion. 

General liability - Insurance that protects organizations against liability claims for bodily injury and property damage arising out of premises, operations, products, and completed operations, as well as advertising and personal injury liability.

Casualty - A broad category of coverage against loss of property, damage or other liabilities to third parties. Casualty insurance includes general liability, vehicle/auto insurance, builders’ risk, theft insurance, fidelity and surety.  Other casualty coverages include workers' compensation, directors’ and officers’ (“D&O”), errors and omissions (“E&O”), employment practices, and other coverages that protect an insurance from liabilities arising out of its operation.

Auto liability and physical damage - Auto liability insurance that protects the insured against financial loss because of legal liability for automobile-related injuries to others or damage to their property by an auto. Physical damage insurance coverage insures against damage to the insured's own vehicle. Coverage is provided for perils such as collision, vandalism, fire, and theft.

Umbrella liability - Insurance that provides excess limits when the limits of underlying liability policies are exhausted by the payment of claims; it drops down and picks up where the underlying policy leaves off when the aggregate limit of the underlying policy in question is exhausted by the payment of claims; and it provides protection against some claims not covered by the underlying policies, subject to the assumption, by the named insured, of a self-insured retention.


In addition, other insurance coverage, such as professional liability, directors' and officers' liability (“D&O”) insurance can be purchased through HUB, thereby providing our members with “one stop shopping” for all of their insurance needs.