At the beginning of 2025, after nearly a year of market research including discussions with brokers and carriers and vetting numerous potential partners, NFFS formally entered a partnership with USI Insurance to provide Property and Casualty coverage for members. As we learned from multiple NFFS members, the US insurance market had essentially pulled back from insuring foundries, abandoning multiple members as renewal dates closed in and when carriers did decide to continue foundry coverage, the year-over-year premium increases were astronomical. NFFS looked to find a partner who had a creative solution in place – utilizing markets and partnerships available to them – so that the Society members could secure high-quality coverage while keeping premiums reasonable. In USI, NFFS found such a partner.
In the first several months of the program, NFFS members have reached out to USI representatives to talk through their current insurance situations, explore opportunities through the NFFS/USI program and to purchase new coverage that meets their facility needs at reasonable prices. Just recently, Littlestown Foundry in Littlestown, PA, a long-time NFFS member contacted USI about the program when they received a 400% increase from their current broker when they had no losses at their facility. Littlestown explored the process with the USI team - learning about the industry landscape, better understanding their options and looking closely at coverage and pricing.
“It was great to see how transparent and how strikingly more informative the USI team was about the options for the industry than our previous broker,” said Steve Kress, Vice President and General Manager with Littlestown Foundry. “With the US carriers pushing foundries out of the picture, the USI program provides us a renewed sense of confidence that Littlestown is protected.”
Littlestown Foundry and USI developed a full coverage package that increased the loss limit by $15,000,000 and included Business Income protection and Equipment Breakdown coverage that included furnaces. In addition to the coverage enhancements, the new policy will save Littlestown over $135,000 in premium this year.
Each insurance solution is different based on the company and the company history, but the USI insurance experts will provide an honest and up front analysis of the options available. To contact USI to learn more about the new Property and Casualty Insurance program, please visit - Property & Casualty Insurance for Foundries - Non-Ferrous Founders' Society.