NAS Launches Momentum™, A Breakthrough Insurance For Online Sellers

 

NAS Insurance Services, the leader in cyber liability insurance, has announced the launch of Momentum™, its newest insurance product for online sellers.  Momentum™ is a breakthrough business interruption insurance for people who sell products on Amazon and other online marketplaces. If a seller’s account is suspended by an online vendor, Momentum provides the protection they need to cover their financial losses and help them get back to business.

 

“There are over 1 million sellers on Amazon in the United States, and all of them are at risk of having their account suspended, interrupting their ability to sell and generate income,” said Michael Palotay, Chief Underwriting Officer at NAS. “In the same way a retail store would carry insurance coverage for a flood or fire, we saw a need for online sellers to have a solution they could turn to when their business was suspended.”

 

Amazon has become ubiquitous in American culture, driving the number of sellers on the platform to grow exponentially. Today, thousands of businesses rely on Amazon as their main source of income. But as Amazon’s seller base has expanded, so too has its rules and regulations – holding sellers to rigorous standards and frequently suspending sellers’ accounts if they fail to comply.

 

“While most sellers strive to adhere to Amazon’s policies, there is mounting evidence that even those who are compliant have faced an account suspension for an alleged violation,” said Jeremy Barnett, Vice President of Marketing and Business Development at NAS. “With Momentum, these online sellers have an affordable insurance solution that protects them from financial loss, while providing the peace of mind that is essential for any business owner.”

 

Momentum’s core insurance coverage starts at $250 annually and provides reimbursement for the financial loss sustained during a suspension. In addition, Momentum’s policy provides reimbursement for the cost of a reinstatement specialist to help sellers navigate Amazon’s appeal process and procedures.  The insurance also provides coverage for tax audit expenses, helping sellers cover the costs of a tax specialist in the event of an audit by the U.S Internal Revenue Service.

 

More information about NAS and Momentum can be found at www.nasinsurance.com/momentum

 

NAS is a full-service specialty insurance underwriting manager that provides innovative product development, underwriting, marketing, risk management, and claims handling services for a broad range of specialty products that are distributed as both insurance and reinsurance solutions.

 

February, 2018

Last weekend a group of NAS team members took to the California hillside for a day of giving back with TreePeople, a local nonprofit organization dedicated to improving the environment.

 

In the wake of the massive wildfires in last year, our team got down in the dirt to remove non-native vegetation, which is often the first to burn during a fire. To help keep the hillside safe, we replaced invasive plants with native vegetation and made sure the surrounding areas were thoroughly watered.

 

Thanks to TreePeople for a great day of giving back!

February, 2018

NAS Insurance Announces New Miscellaneous E&O Insurance for Architects and Engineers

 

NAS Insurance Services today announced the release of its newest insurance product, E&O for Architects and Engineers (A&E). This product rounds out NAS’ suite of E&O insurance solutions, including E&O for Tutors, Medical Billers, Property Managers, Technology E&O, and several other Miscellaneous E&O classes.

 

“NAS Architects and Engineers solution includes a unique set of benefits that fits the needs of the policyholder,” said Brian Alva, Vice President of Specialty Insurance. “Policyholders will not only get a comprehensive and competitive E&O policy, they’ll also get innovative coverage for technology services and state-of-the-art cyber liability coverage.”

 

NAS’ Architects and Engineers insurance provides three insurance products in one: A&E Professional Services Liability Coverage, Technology E&O, and NAS’ Cyber Liability Policy, NetGuard® Plus. By combining these three policies into one, NAS’ offering gives architects, engineers, and other design professionals a complete and reliable solution to fit the changing needs of their business.

 

As an added benefit of this policy, insureds will have access to risk management consultants to help mitigate risks, and NAS’ expert claims team for resources and support when an issue arises. NAS’ risk management resource provides access to free and confidential risk management support, including contract review and consultation from a team of legal experts. NAS expert claims team has extensive experience in E&O claims handling, providing guidance throughout the claims process to achieve a rapid and complete resolution.

 

Nicholas Rotondo, Assistant Vice President of E&O, leads the underwriting of the Architects and Engineers product from the NAS office in Atlanta, Georgia. “We’re expecting this product to swiftly gain traction with our brokers due to the broad spectrum of coverages,” said Rotondo. “This product is truly a standout among others in the A&E marketplace, and we look forward to growing our business in this segment in 2018 and beyond.”

 

For more information visit www.nasinsurance.com.

 

NAS Insurance is a full-service specialty insurance underwriting manager that provides innovative product development, underwriting, marketing, risk management, and claims handling services for a broad range of specialty products that are distributed as both insurance and reinsurance solutions.

February, 2018

In honor of Breast Cancer Awareness Month in October, NAS has joined the Breast Cancer Research Foundation (BCRF) to raise money for this important cause.

 

BCRF is dedicated to ending breast cancer by advancing worldwide research efforts. We are proud to support BCRF and to stand behind those who have battled breast cancer as we work together to find a cure.

 

Join us in supporting the BCRF at nasinsurance.com/gopink.

October, 2017

Insurance Business America’s Elite Women in Insurance

 

We’re proud to announce that our very own Connie Rivas is featured in Insurance Business America’s Elite Women of 2017.

 

As our Vice President of Product Development, Connie leads our efforts to turn specialty insurance opportunities into actual policy forms that address emerging business risks. Since joining the company in 2004 she, has been at the center of our innovation by developing and customizing policy wordings across all lines of business.

 

To see the full feature, click here. Way to go Connie!

July, 2017