National Indemnity Insurance Company

National Indemnity Insurance Company
3024 Harney Street
Omaha, Nebraska 3580
(402) 916 3000

Extending financial help for any kind of liability. This is what the National Indemnity Company (NICO) believes in. This is also one of the reasons why they are one of the leading insurance companies in America with their continuous excellent service to their clients.

AM Best, an organization that gives full-service credit ratings to those in the financial services industry has rated National Indemnity Insurance Company a rating of A++XV, reflecting its more than superior financial strength and extreme capability to meet the financial obligations it has to its clients and policy holders.

The company offers a wide array of services to its clients. These ranges from insurance products covering automobiles, cargo, garages to prize indemnifications, special events, and any liability in general.

In the commercial auto insurance business, NICO covers any automobile for whatever purpose it may serve the client or customer. In the cargo business, the company insures against risk to goods transported by trucks. It also addresses the needs for garage coverage–from dealerships on used cars to automobile repair shops.

Aside from this, the NICO also has policies for insuring prizes. This is a kind of insurance in which the participants are offered the chance to win prizes. Instead of keeping cash reserves in order to cover huge amounts of a prize, the promoter or group giving out a prize pays a premium to the insurance company, which in turn reimburses the insured party should the prize be given away.

The NICO also has policies for special events. As such, it has liability coverage for festivals of a community, art shows, concerts, and even events for sports. Aside from this, it also has a general liability insurance. It continues to protect its clients against any kind of risk or liability, whether it be an injury or damage to property.

NICO was established in 1940 with two entrepreneur brothers, Arthur and Jack Ringwalt. They started this known company in just a two-room office in Omaha, Nebraska. Their humble beginnings started with a four-employee operation, and as a specialty insurance firm, writing liability insurances for taxis.

Although the company has widened their scope of policies since then, they still adhered to the founding principles of the Ringwalt brothers: for every legitimate damage, there is a proper rate, and that properties prone to risk such as taxis, trucks, rental cars, and buses for the public should not be neglected.

To this day, NICO is one of the leading property and casualty insurance companies. It is a member of the Berkshire Hathaway group of insurance companies. In a 2004 annual report of Berkshire Hathaway, their chairman, Warren E. Buffet stated that the company would not be successful and developed as it is now had it not been for their acquisition of NICO.

NICO has ever since made its non-reinsurance kinds of business nationwide, and also relying on an ample network of about 100 and more general agents who were contracted. These agents work hard to understand and address the needs of their customers. The NICO contracts with these general agents in order to organize and take care of business relationships.