National Insurance Brokerage Of New York

What National Insurance Brokerage Of New York does

National Insurance Brokerage of New York (NIBONY) is an independent insurance brokerage founded in September 1995 by Frank Cormio and headquartered in Islandia, NY, with a secondary office in Boca Raton, FL. The firm earns commission-based revenue by placing commercial and personal lines, group benefits, surety and fidelity bonds, and association programs on behalf of clients with 20+ top-tier carriers including CNA, AIG, Chubb, Hartford, Travelers, Zurich, Progressive, Utica National, AmTrust, USLI, Guard, and Samsung Fire & Marine. Its primary customer base spans four segments — commercial businesses (sole proprietors through large multi-state corporate accounts), individuals and families, employers seeking group benefits, and trade associations — with particular depth in NY labor-law-driven contractor coverage, restaurants, auto collision repair (via LIABRA and NYSACT association programs reaching 500+ shops), and specialty lines such as vacant property/house-flip coverage.

The firm's product portfolio is organized around seven core lines: commercial insurance (property, workers compensation, general liability, commercial auto, umbrella/excess, EPLI, D&O, E&O, inland/ocean marine, builders risk, pollution liability, crime, flood, terrorism), personal insurance (homeowners, auto, umbrella, life, health, long-term care, disability), group benefits and financial services (health, life, dental, disability, 401K), group and association programs (Workers Comp Safety Groups with up to 30% dividends), surety and fidelity bonds, and pet insurance (via Figo Pet Insurance distribution). The company operates a third-party risk management client portal (Loss Free RX) but discloses no proprietary technology, proprietary models, or AI/ML capabilities — it relies on standard industry placement practices and carrier underwriting tools.

NIBONY's go-to-market combines sales-led direct engagement (dedicated account managers, on-site consultations, phone/in-person quote handling at both offices) with channel-partner distribution through trade associations and the Figo pet insurance partnership. Marketing is primarily content-driven (educational blog on contractor/restaurant/real estate/EPLI topics) plus organic social on Facebook and LinkedIn and TCPA-compliant SMS alerts. The firm is privately held, founder-controlled, with no disclosed funding rounds, no parent company, no M&A activity, and headcount in the 11–50 range. The only disclosed scale metric is over $60 million in written premium volume (as of 2022), placing the firm in the small/mid-tier independent brokerage segment by premium placed but with a localized production footprint despite nationwide licensing.

Name

National Insurance Brokerage Of New York

Legal name

National Insurance Brokerage Of New York Inc.

Website

https://nibony.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Short description

Independent insurance brokerage founded 1995 in Islandia, NY, placing commercial, personal, group benefits, surety, and association programs through 20+ top-tier carriers, with over $60M in written premium and offices in NY and FL.

Ownership category

akta.pro rank

Product category

Insurance Brokerage Services

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (52421), Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331), Surety Insurance (6351)

akta.pro primary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

akta.pro secondary industry

Individual Health Insurance Brokerage & Distribution (FSAIAEAL)

Keywords

• Commercial insurance brokerage
• Personal insurance services
• Group benefits administration
• Association insurance programs
• Surety and fidelity bonds

Headquarters

HQ city

Islandia

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Brokerage Commissions: As an independent insurance broker/agent, NIBONY earns commissions from insurance carriers for placing business. The company represents multiple insurance carriers and matches clients with appropriate coverage based on their risk profiles.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

National Insurance Brokerage Of New York (NIBONY) is an independent insurance brokerage that places Property & Casualty, Life & Health, and specialty insurance for commercial and personal clients. The firm represents over 20 top-tier carriers (CNA, AIG, Chubb, Hartford, Travelers, Zurich, etc.) and matches clients to coverage based on risk profile, offering risk management consultation, claims support, and group/association programs.

Product overview

National Insurance Brokerage Of New York (NIBONY) is an independent insurance brokerage offering a comprehensive portfolio of insurance products and services. The core offerings include Commercial Insurance (property, liability, workers comp, auto, specialty lines), Personal Insurance (homes, vehicles, valuables), Pet Insurance through Figo partnership, Group Benefits & Financial Services (health, life, 401K), and Group & Association Programs. The company operates a Risk Management Center client portal and provides specialized products including Surety & Fidelity Bonds, EPLI, D&O, E&O, and various commercial coverages. As an independent agent, NIBONY serves clients rather than carriers, accessing over 20 top-tier insurance providers including CNA, AIG, Chubb, Hartford, Travelers, and Zurich.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Insurance Full-service commercial insurance solutions for businesses ranging from sole proprietors to large corporate multi-state accounts, covering property, liability, workers compensation, business auto, umbrella/excess, E&O, D&O, pollution, inland/ocean marine, builders risk, crime, flood, and terrorism coverage.
• Personal Insurance Personal risk management and asset protection for individuals and families covering homes, condos, automobiles, boats, recreational vehicles, jewelry, antiques, umbrella coverage, life, health, long-term care, and disability insurance.
• Pet Insurance Pet health insurance covering illnesses and injuries, distributed through a partnership with Figo Pet Insurance offering Essential, Preferred, and Ultimate plans with up to 100% reimbursement and online quote capabilities.
• Group Benefits and Financial Services Employee benefits and financial products for employers including group health, life, dental, disability, supplemental insurance, pension and profit-sharing plans, 401K plans, mutual funds, and annuities.
• Group & Association Insurance Programs Custom-designed insurance programs for trade associations and member groups, including Workers Compensation Safety Groups with discounted rates and dividend potential; flagship programs administered for LIABRA and NYSACT collision repair associations.
• Surety & Fidelity Bonds Bond brokerage providing contract/performance bonds, payment bonds, subdivision bonds, supply bonds, license and permit bonds, fidelity bonds, and crime coverage for businesses.
• Risk Management Center Online risk management portal (powered by Loss Free RX) for existing clients to access policy management tools, loss prevention resources, and exposure documentation.

Quantifiable outcome

• Over $60 Million in written premium volume
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Partnerships

16 partnerships are on record, tiered core, major, flagship and minor.

• CNA FinancialcoreOthersTop-tier insurance carrier partner providing commercial insurance products including property, casualty, and specialized coverage options for NIBONY clients.
• AIG (American International Group)coreOthersMajor insurance carrier partner offering commercial and specialty insurance products for risk protection.
• Chubb GroupcoreOthersPremium insurance carrier providing high-value commercial and personal insurance coverage options.
• The HartfordcoreOthersNational insurance carrier offering commercial lines, workers compensation, and business insurance solutions.
• TravelerscoreOthersLeading commercial insurance carrier providing property, casualty, and business insurance products.
• Zurich North AmericacoreOthersGlobal insurance carrier offering commercial and specialty insurance solutions.
• Progressive InsurancemajorOthersInsurance carrier partner providing commercial and personal lines coverage options.
• Utica National Insurance GroupcoreOthersRegional insurance carrier providing commercial and personal insurance products with strong market presence.
• LIABRA (Long Island Auto Body Repairmen's Association)flagshipStrategic or Co-development PartnerNIBONY administers exclusive Workers Compensation Safety Group program for LIABRA's 500+ member collision repair shops. Program features no administration fee, 15% upfront discount, and has paid up to 30% dividends. Members receive discounted garage, property, health, life, auto, and homeowner packages.
• NYSACT (New York State Auto Collision Technician Association)flagshipStrategic or Co-development PartnerNYSACT is statewide trade association for collision repair professionals. NIBONY provides Workers Compensation Safety Group program with no administration fee, easy payment plans, and up to 30% dividend potential. Association represents 10 geographical chapters across NY State.
• Figo Pet InsurancecoreChannel Partner/ Reseller/ DistributorPet insurance distribution partnership offering Figo's pet insurance products through NIBONY. Includes Essential, Preferred, and Ultimate plans with annual coverage from $10,000 to unlimited. Administered by FigoPet Insurance, LLC, underwritten by Markel American Insurance Company.
• Utica Mutual/Utica First InsurancecoreOthersMutual insurance carrier partner providing commercial and personal insurance products for NIBONY clients.
• USLI (United States Liability Insurance Company)majorOthersSpecialty insurance carrier providing liability and excess insurance products.
• AmTrust GroupmajorOthersInsurance carrier providing commercial coverage options including workers compensation and business insurance.
• Guard Insurance GroupmajorOthersInsurance carrier providing commercial insurance products for NIBONY clients.
• Samsung Fire & MarineminorOthersInsurance carrier partner offering fire and marine insurance products.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Brown & Brown, Inc. Brown & Brown is a top-10 publicly traded insurance brokerage operating across commercial P&C, personal lines, group benefits, and specialty. Similar independent brokerage model with multi-state licensing; a relevant broad incumbent peer for NIBONY.
• Acrisure: Acrisure is one of the largest insurance brokerages globally, with P&C, commercial, personal, and employee benefits lines. Its aggressive M&A roll-up strategy makes it a key competitor for talent and account acquisition; commercial product mix overlaps with NIBONY.
• Arthur J. Gallagher & Co. Gallagher is a global insurance broker and risk management firm with deep commercial P&C, benefits, and specialty practices. Overlaps with NIBONY on multi-line commercial and benefits brokerage for mid-market accounts.
• Marsh McLennan Agency: Marsh McLennan Agency is the mid-market arm of Marsh, serving commercial clients across the U.S. with P&C, benefits, and risk management. Broad incumbent peer competing for the same mid-market accounts as NIBONY.

Direct peers

• Hub International Limited: Hub International is a large North American insurance brokerage with a heavy P&C, commercial, and personal lines focus, comparable multi-carrier access model, and similar acquisition-led growth playbook. Directly comparable as an independent brokerage serving SMB and mid-market clients with diversified product lines.
• USI Insurance Services: USI is a mid-to-large insurance brokerage offering commercial P&C, personal, employee benefits, and surety across the U.S. Very comparable in product mix and client segmentation, particularly on group benefits and commercial lines.
• World Insurance Associates: World Insurance Associates is an East Coast-focused insurance brokerage providing commercial P&C, personal, and employee benefits. Similar scale, geographic overlap (NY/Florida), and acquisition-led expansion model.
• Hilb Group: Hilb Group is a fast-growing mid-market insurance brokerage with strong Northeastern U.S. presence, offering commercial, personal, and benefits lines. Closely comparable in scale, multi-state footprint, and acquisition-driven growth model.
• Insurance Office of America (IOA): IOA is a privately held insurance brokerage offering commercial, personal, life, and group benefits across the U.S. Comparable independent model with similar SMB-to-mid-market client focus and multi-carrier access.

Regional players

• North American Insurance Services: NAIS is a NY-based independent insurance brokerage focusing on commercial and personal lines for SMBs across the New York metro area. Strong direct regional overlap with NIBONY's Islandia-headquartered practice.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/nationalinsurancebrokerageofny
• LinkedInlinkedin.com/company/national-insurance-brokerage-of-new-york

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 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 Insurance Brokerage Of New York