What National Indemnity Company does

National Indemnity Company (NICO) is a wholly-owned subsidiary of Berkshire Hathaway Inc. and the lead member of the National Indemnity group of insurance companies. Founded in 1940 in Omaha, Nebraska by Arthur and Jack Ringwalt, NICO underwrites specialty commercial property and casualty insurance — primarily commercial auto, fleet, motor truck cargo, general liability, and garage insurance — and writes both standard and surplus lines with liability limits up to $5 million. The company is licensed in all 50 states plus the District of Columbia, holds the highest possible A++XV financial strength rating from A.M. Best (as of April 16, 2026) and AA+ from Standard & Poor's, and Berkshire Hathaway acquired it in 1967 in a transaction Warren Buffett has described as essential to Berkshire's value.

NICO operates a wholesale distribution model with more than 100 contracted wholesale agencies nationwide that manage relationships with local retail agents; it supplements this with a self-serve Get A Quote tool for commercial auto rate indications, a Business Partner portal for contracted agents, and a Find an Agent locator. Its underlying technology stack consists of policy management, claims reporting, express payment, and VIN correction portals for policyholders, alongside the JustDrive Telematics Program that integrates with more than 100 third-party GPS, telematics, and ELD providers to offer premium discounts in exchange for driving data. The company employs 800+ people in its downtown Omaha headquarters, with an average tenure of 10 years, and has affiliated insurance entities including Columbia Insurance Company, National Fire & Marine Insurance Company, National Liability & Fire Insurance Company, National Indemnity Company of the South, and National Indemnity Company of Mid-America.

NICO's revenue is generated by collecting insurance premiums on a recurring monthly basis, with pricing determined per quote and underwriting decision rather than publicly disclosed rates. It is also a major reinsurance arm within Berkshire Hathaway, which in March 2026 deployed approximately $1.8 billion via NICO to acquire a 2.49% stake in Tokio Marine Holdings (with the right to increase to 9.9%) and to enter a 10-year Whole Account Quota Share reinsurance arrangement effective April 1, 2026, alongside a collaboration on global M&A activities. NICO's product portfolio covers over 100 risk categories and serves transportation, trucking, dealership, garage, contractor, special event, amusement, and guide/outfitter segments, with a stated willingness to insure hard-to-place risks that other carriers decline.

Name

National Indemnity Company

Legal name

National Indemnity Company

Website

https://nationalindemnity.com

Company type

Private

Founded year

1940

Operating status

Operating

Headcount range

501–1,000 employees

Short description

National Indemnity Company (NICO) is a Berkshire Hathaway property/casualty insurance subsidiary offering commercial auto, fleet, general liability, garage, and motor truck cargo coverage through 100+ wholesale agencies across the United States. Founded in 1940 and based in Omaha, Nebraska, NICO specializes in hard-to-place commercial risks and holds an A++XV rating from A.M. Best.

Ownership category

akta.pro rank

Headquarters

HQ city

Omaha

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Insurance Premiums: National Indemnity Company generates revenue through collection of insurance premiums from commercial auto, general liability, garage, and motor truck cargo policies. The company offers liability limits up to $5 million and writes both standard and surplus lines business.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

National Indemnity Company (NICO) underwrites and sells commercial property/casualty insurance products, including commercial auto, fleet, motor truck cargo, general liability, and garage insurance. Policies are distributed exclusively through a wholesale agency network of 100+ contracted wholesalers who in turn work with independent retail agents to place coverage with business customers.

Product overview

National Indemnity Company (NICO) offers a comprehensive portfolio of commercial property/casualty insurance products through a wholesale distribution model with over 100 contracted wholesale agencies. The core product lines include Commercial Auto Insurance (with sub-products for Business Auto, Commercial Trucks, Passenger Transport, and Specialty Operations), Fleet Insurance, Motor Truck Cargo Insurance, General Liability Insurance (with sub-products for Artisan Contractors, Transportation, Special Events, Amusements, and Guides & Outfitters), and Garage Insurance (with sub-products for Dealers and Service & Repair Shops). All products are underwritten by the Berkshire Hathaway subsidiary known for its A++XV A.M. Best rating.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Auto Insurance Primary commercial vehicle insurance covering liability, physical damage, and related coverages for a wide range of business vehicles with liability limits up to $5 million.
• Fleet Insurance Commercial auto insurance for fleets of 10 or more power units, combining business auto, truck, passenger transport, and specialty operations coverages with nationwide underwriting expertise.
• Motor Truck Cargo Insurance Cargo coverage for businesses transporting owned commodities or hauling freight for hire, with options to add to trucker policies or purchase separately. Covers loading/unloading, refrigeration breakdown, and earned freight.
• General Liability Insurance Broad general liability coverage for businesses including artisan contractors, transportation services, special events, amusements, and guides & outfitters, covering bodily injury, property damage, and personal/advertising injury.
• Artisan Contractors General Liability General liability coverage for contractor professions including carpentry, cleaning, electrical, excavation, HVAC, plumbing, remodeling, tree trimming, welding, and waterproofing.
• Special Events General Liability Short-term general liability coverage for special events including block parties, concerts, fairs, fireworks, food festivals, motorcycle rallies, motorsports, music festivals, parades, rodeos, and vendor shows.
• Amusements General Liability General liability coverage for amusements including amusement parks, arcades, axe throwing, escape rooms, haunted houses, inflatable rentals, miniature golf, paintball, pumpkin patches, swimming pools, and water parks.
• Garage Insurance Garage coverage for dealers and service/repair operations, covering liability, physical damage, uninsured motorists, medical payments, and garagekeepers for vehicles in custody.
• Garage Dealers Insurance Garage coverage for dealers including ATV, golf cart, motor home, motorcycle, trailer, truck/tractor, and used car dealers, with coverages for liability, physical damage, and garagekeepers.
• Business Auto Insurance Coverage for company vehicles, contractor vehicles, courtesy transportation, farmer vehicles, funeral home vehicles, mobile concession vehicles, and rental operations.
• Commercial Truck Insurance Insurance for commercial truck operations including construction vehicles, delivery vehicles, dump trucks, hazardous commodity haulers, tankers, and tow trucks.
• Passenger Transport Insurance Coverage for vehicles transporting passengers including children's transportation, courtesy vehicles, employee transportation, limousine services, mass transit, religious organization vehicles, social service vehicles, and taxis.
• Specialty Operations Insurance Coverage for specialized vehicle operations including drive-away contractors, driver training, funeral homes, medical transportation, mobile concessions, municipality vehicles, non-trucking liability, rental operations, and security vehicles.
• Transportation General Liability General liability coverage for on-the-road businesses including charter buses, driver training schools, gas/fuel delivery, limousines, medical transport, party buses, pilot cars, school buses, taxi services, and truckers.
• Guides & Outfitters General Liability General liability coverage for guided tours and outdoor activities including ATV rentals, bicycle tours, boat tours, guided hunting/fishing trips, horseback tours, Segway rentals, snowmobile rentals, and walking tours.
• Garage Service & Repair Shops Insurance Garage and general liability coverage for service and repair businesses including auto body shops, auto repair shops, car washes, detailing, mobile repair, tire shops, and truck/tractor repair.

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Travelers Companies: Travelers is one of the largest U.S. commercial property/casualty insurers offering commercial auto, general liability, and specialty commercial products through independent agents—directly comparable to NICO's product set and wholesale distribution model.
• Liberty Mutual Insurance: Liberty Mutual is a major U.S. commercial P&C carrier writing commercial auto, general liability, garage, and specialty risks, with both direct and agency distribution—closely overlapping NICO's commercial lines portfolio.
• Chubb Limited: Chubb is a global commercial specialty insurer underwriting middle-market and specialty commercial risks, including commercial auto and liability—comparable to NICO's appetite for harder-to-place specialty risks.
• The Hartford: The Hartford's commercial P&C division focuses on small to mid-sized businesses, including commercial auto and general liability—directly competing with NICO for similar commercial insurance customers.
• Cincinnati Financial: Cincinnati Financial writes commercial property/casualty insurance exclusively through independent agents across commercial auto, general liability, and specialty lines—a closely comparable agency-distribution and specialty-underwriting model.
• Markel Group: Markel is a specialty insurer known for underwriting unusual and hard-to-place risks across commercial lines, comparable to NICO's specialty risk appetite and expertise in niche commercial auto and liability segments.
• Hanover Insurance Group: Hanover Insurance is a commercial P&C carrier focused on middle-market commercial accounts, including commercial auto and liability, distributed primarily through independent agents—a directly comparable specialty commercial carrier.
• Progressive Commercial: Progressive's commercial division writes commercial auto and trucking insurance with a strong digital direct and agency hybrid model—a leading direct competitor in the commercial auto niche NICO serves.

Broad incumbents

• GEICO Insurance Agency: GEICO is Berkshire Hathaway's flagship personal auto insurer but operates a commercial auto partnership through which it places business with NICO—relevant as both a sibling subsidiary and a customer/distribution channel for NICO's commercial auto products.
• Nationwide Mutual Insurance: Nationwide writes commercial P&C lines including commercial auto and general liability through independent agents—a comparable large diversified mutual insurer with overlapping commercial lines business.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/national-indemnity-company

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about National Indemnity Company