Washington, D.C.-based National Association of Wholesaler-Distributors yesterday named The Hartford Financial Services Group Inc. as its endorsed provider of commercial property-casualty insurance.
The two groups have entered into a multiyear agreement beginning July 1.
The Hartford will provide commercial insurance coverage on property, liability, commercial auto and workers' compensation insurance, and NAW will serve to expand the company's presence in the wholesale industry.
Officials at The Hartford told National Underwriter they were interested in the partnership because NAW was a good representative of the wholesale industry with a countrywide scope. In particular, the group's lobbying efforts on behalf of the industry were of interest to them.
Ken Zygiel, assistant vice president of operations at The Hartford said that the company sought to focus on "small and middle-market business segments." These firms would have revenues up to $500 million annually, he added.
This issue was an important deciding factor for NAW as the group felt that midsize firms represented a market segment that some carriers have abandoned in recent years.
Currently, NAW represents more than 100 line-of-trade associations, as well as 38 regional and local wholesale distribution associations.
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