Coastal-focused homeowners and flood insurance broker ShoreOne Insurance Managers, Inc. has been acquired by Totalis Program Underwrite
rs, a New York specialty insurance platform that is part of NFP, an Aon company.
Terms of the deal were not disclosed. However, BrightShore Insurance Co., founded by
ShoreOne, is not part of the transaction and will retain its current ownership.
Dedham, Massachu
setts-based managimg general agent ShoreOne offers a homeowners product that integrates comprehensive flood coverage, serving coasta
l markets across South Carolina, New Jersey, New York, Massachusetts and Rhode Isla
nd. ShoreOne provides a “one-and-done” policy designed to eliminate the need for separate, multiple policies for coastal properties.
ShoreOne brings coastal homeowners underwriting expertise to the Totalis platform, alon
g with advanced analytics, proprietary risk selection tools, and portfolio management capa
bilities that enable more precise pricing and underwriting in complex, flood-exposed markets.
ShoreOne was founded in 2019 by Cameron Rhodes and Nick Steffey. It will continue to operate as an independent business unit within Totalis.
Watch More Image Part 2 >>>
Rhodes will succeed Nick Steffey as chief executive officer and report to John Maho
ney, head of programs, Totalis. Steffey will remain involved with ShoreOne as an executive
advisor, while maintaining his role as chairman of BrightShore.
BrightShore will continue to support ShoreOne as a key carrier partner, alongside American European Insurance Co. and Trisura Specialty Insurance Co.
“As a long-term capital partner, Totalis enables us to focus on disciplined, profitable g
rowth while continuing to deliver value to our insurer, reinsurer, and distribution partners,” Rhodes said.
Totalis is a platform focused on underserved, complex and niche risks. It ma
nages a collection of specialty programs in multiple industries. Totalis was launc
hed by NFP in September 2023 to consolidate its managing general agent (MGA) and specialty program businesses.
