Two seconds is the longest a driver can safely glance away from the road, but sending or receiving a text takes a driver’s eyes off the road for an average of 5 seconds.
OceanPoint Insurance is honored to be recognized by The Main Street America Group (MSA) for the company’s performance in Rhode Island and Southern New England. The Main Street America Group’s (MSA) 2017 Annual Report (see image below) ‘Delivering On Mainstreet’ shows that OceanPoint contributed to MSA’s 25% growth in personal insurance products in the New England Region!
OceanPoint has been writing personal and commercial insurance policies for MSA since 1995. Our strong partnership allows us to meet and exceed the needs of our clients.
In the annual report, OceanPoint’s President, Doug Mayhew, said “Main Street America’s 100% commitment to independent agents and Trusted Choice® as a whole is a key driver in our desire to partner with your organization [MSA]. Several years back, we were struggling to build our business with Main Street America but with the dedicated efforts from our field marketing representative Laurie Vario, as well as excellent teamwork from our personal and commercial underwriters, we have built a relationship that is meaningful to our agency and ranks amongst the best. A wide range of personal and commercial products, competitive pricing and responsive underwriting compliment our agency growth initiatives effectively.”
About The Main Street America Group
The Main Street America Group started in 1923 with the founding of National Grange Mutual Insurance Company (NGM), which was created to provide affordable insurance coverage to Grange Fraternity members in New Hampshire. In 2005, the mutual insurance company became NGM Insurance Company with the conversion to a mutual holding company structure and the formation of Main Street America Group Inc.
Based in Jacksonville, Fla., Main Street America offers a wide range of commercial and personal insurance, and fidelity and surety bond products to “Main Street” individuals, families and businesses. A.M. Best Company rates Main Street America as an “A” (Excellent). Main Street America is the founding company partner of Trusted Choice®, the global branding program of the Independent Insurance Agents & Brokers of America.
Through the following eight property-casualty insurance carriers, Main Street America partners with more than 3,000 independent agents to provide superior, personal service to more than 650,000 policyholders:
NGM Insurance Company
NGM Insurance Company, a Florida-domiciled stock insurance company, is Main Street America’s flagship carrier. A complete line of personal and commercial products and services are written with NGM for Main Street Americans throughout New England, the Northeast, Mid-Atlantic, Southeast and Southwest and West.
Old Dominion Insurance Company
Personal and commercial products in Georgia, as well as commercial products in Florida, are written with the Old Dominion Insurance Company. In addition, Main Street America’s Personal Auto MVP (Multivariate Program) rating model is written with Old Dominion in many of the states where the pricing model is offered.
Austin Mutual Insurance Company
Austin Mutual, an affiliate of Main Street America, provides personal and commercial products in 19 Midwest and Western States.
Grain Dealers Mutual Insurance Company
An affiliate of The Main Street America Group, personal and commercial products are written through Grain Dealers Mutual in Indiana, Mississippi, North Carolina, Oklahoma, Tennessee and Virginia.
Main Street America Assurance Company
Property and casualty insurance business in 16 of Main Street America’s states is written with Main Street America Assurance Company.
MSA Insurance Company
Excess and surplus lines insurance for Florida commercial insureds is written through MSA Insurance Company, a South Carolina-domiciled stock insurance company.
Spring Valley Mutual Insurance Company
Spring Valley Mutual, an affiliate of Main Street America, provides homeowners and farm owners coverages in Minnesota.
Main Street America Protection Insurance Company
Main Street America Protection has been licensed in Florida to provide commercial lines products in the Sunshine State.
Ah, spring! We New Englanders have made it through another winter. As the temperature rises, snowstorms turn into rainstorms. In this transitional time, however, the ground has not yet thawed, and as those rainstorms persist, all that water needs to go somewhere.
Due to the laws of gravity, water will go from high ground to low ground. The result: basements become flooded with inches, sometimes feet, of water.
A flooded basement can cost homeowners hundreds to thousands of dollars, even with homeowners’ insurance. Appliances, carpeting, stored valuables can all become ruined. Furthermore, if flood clean up is not conducted correctly, mold can present a health issue,
According to NOAA, the cost of flood damage in the US last year was over $3 billion!
So how do homeowners avoid flooded basements in this rainy season? The best solution is the sump pump which is a small water pump that is placed in the lowest part of a house, typically, the basement or crawlspace. When a basement starts to fill with water, the sump pump will remove unwanted water from the building. These little gems can cost between $1,000-$1500 to install which is a small price to pay in comparison to the damage caused by a flooded basement, or home.
While sump pumps are a great solution, they are not so great when the electricity supply stops because they will stop pumping water.
When a storm hits, the potential for power loss can be a significant issue for the home or business owner.
If your neighborhood is prone to losing power, you may want to make sure that your sump pump has a backup battery. This will buy you a few more hours of pumping time after the electricity goes out, which can make a significant difference between being flooded or not.
However, if you’re on a municipal water system, you may want to consider a water-powered backup pump. This may be a better option as a well pump won’t work if the power’s out. The price you’ll pay for water consumption during a power outage is a minimal compared with the cost of a flooded basement. Additionally, a water-powered pump never needs new batteries.
When New England gets hit with a storm, we usually get hit pretty hard, it is not unusual to lose power for several days which would exceed the life of a backup battery rendering the sump pump useless, and that is when the damage, and costs, start piling up.
Some homeowners take it to the next level and install a whole house generator which turns on automatically in the event of power failure. These generators are wired to the sump pump, and other needed appliances, to ensure that the home does not flood during a storm.
By taking a few precautionary steps, you can protect your home from flood damage and yourself from the headaches of dealing with flooding. Take our advice, plan for the worst and prepare your sump pump for an extended power outage!
NEWPORT, RI (April 2, 2018) – BankNewport announced today that it has purchased the assets of Offshore Financial Corporation, a marine service company specializing in personalized marine financing programs. Offshore Financial will operate as a Marine Lending Division of BankNewport.
Founded in 1989, Offshore Financial provides tailored finance programs for new and used boat purchases and refinancing options for existing boat loans. The transition of Offshore Financial from a privately owned boat loan origination company to BankNewport expands the resources, products, and services available to Offshore Financial clients, including marine-related insurance products and banking products.
“Expansion of our marine lending activities presents a strategic growth opportunity for BankNewport,” stated BankNewport Executive Vice President, Chief Operating Officer, Leland R. Merrill. “The Offshore Financial acquisition provides an immediate leadership position for the Bank, in a key sector of the recreational boating industry, and creates significant value for BankNewport and Offshore customers.”
In addition to its own lending capabilities, Offshore Financial works with a variety of national marine lending institutions which enhances their capacity to offer competitive rates, flexible terms, and specialized attention throughout the boat financing process.
Offshore Financial will retain its long-standing presence in Bay Head, New Jersey, along with offices in the tri-state area of New York, New Jersey, and Connecticut, in Florida, and now in Rhode Island.
BankNewport’s Marine Lending Division will be led by Austin Sedicum, Vice President, Director of Marine Lending. With over 40 years of extensive experience in the marine and specialty lending arenas, Sedicum joins BankNewport from GCF Bank in Sewell, New Jersey, where he developed and managed their marine and specialty lending division.
Along with Austin, the Offshore Financial team members will be welcomed into the BankNewport and OceanPoint Insurance employee family.
Merrill continued, “BankNewport’s new Marine Lending Division is a continued investment in our business and we’re excited to capitalize on the opportunities our collective talents will bring in delivering an even stronger marine financing experience.”
About Offshore Financial
Offshore Financial Corp., a marine service company specializing in boat loan originations was founded by Bernadette Horvath and Matt Bartosh in 1989. In March of 2018, Offshore Financial became a Division of BankNewport. The transition of Offshore Financial from a privately owned boat loan origination company to Bank ownership vastly expands the resources, products, and services available to Offshore Financial customers. In addition to its own lending capabilities, Offshore Financial works with a variety of national marine lending institutions to give Offshore Financial as much horsepower and flexibility as possible to meet your boat financing desires.
About BankNewport
Founded in 1819 and headquartered in Newport, Rhode Island, BankNewport offers a full suite of loan and deposit products and services for families and businesses throughout Rhode Island. With 15 banking offices and $1.5 billion in assets, BankNewport is one of the oldest community banks in the United States and, as a mutual organization, is committed to the financial success of its customers, employees, and communities.
About OceanPoint Insurance Agency
Headquartered in Middletown, Rhode Island, OceanPoint Insurance Agency, Inc., a BankNewport subsidiary, is a Trusted Choice independent insurance agency providing a broad range of property casualty insurance products, including all types of marine-related insurance products. Tracing its roots back to 1863, OceanPoint Insurance is proud to serve the needs of clients from four full-service offices located in Middletown, Barrington, North Kingstown and Coventry, Rhode Island, forming one of the largest independent insurance agency operations in southeastern New England.
Contact:
Kathleen Charbonneau
Vice President/Community Relations
401.845.8673
Arbella Insurance Foundation’s
“Let’s Drive Out Hunger” initiative celebrates its 10th year
MIDDLETOWN, RI – April 2nd, 2018 – OceanPoint Insurance Agency today announced it has donated $500 to East Bay Community Action Program (EBCAP) as part of the Arbella Insurance Foundation’s Let’s Drive Out Hunger program. Along with OceanPoint Insurance, the Arbella Insurance Foundation donated $1,000 to bring the total donation to $1,500
Now in its 10th year, Let’s Drive Out Hunger aims to alleviate the prevalent issue of food insecurity in New England. The Arbella Insurance Foundation collects contributions from any of Arbella Insurance’s nearly 500 partner independent agents and matches each donation on a two-to-one basis – up to $1,000 per agency. Over the past nine years, the Arbella Insurance Foundation and independent agents have contributed more than $940,000 to more than 400 emergency food programs, soup kitchens, food pantries and homeless shelters throughout New England. This year, the program aims to exceed its $1 million goal of giving.
“According to 2016 data from the U.S. Department of Agriculture (USDA), 41.2 million people across the country live in food-insecure households—that number is staggering,” said OceanPoint Insurance President and CEO, Douglas Mayhew. “Hunger is a persistent issue in so many communities, thus OceanPoint Insurance is very proud of our donation to EBCAP’s “Fill the Pantries” campaign to help individuals and families overcome food insecurity.” EBCAP food pantries are located at 1048 Stafford Road in Tiverton, 100 Bullocks Point Avenue in East Providence and 19 Broadway in Newport. Mayhew continued, “We encourage other local businesses to support the tireless efforts of local food pantries to ensure food is available for all neighbors in need.”
The severity of hunger continues to affect thousands of families across New England. According to the USDA, 13 percent of households in Connecticut and more than 10 percent in New Hampshire suffer from hunger and food insecurity. Fifty-six thousand families in Rhode Island lack adequate food. In Massachusetts, research shows that almost 10 percent of households struggle to find and provide healthy meals.
“The Arbella Insurance Foundation is dedicated to fighting hunger in the local communities we serve,” said John Donohue, chairman, president and CEO of the Arbella Insurance Group and chairman of Arbella’s Foundation. “As we celebrate the 10th anniversary of our Let’s Drive Out Hunger program, we’re thrilled to be quickly nearing our goal of raising one million dollars; but we couldn’t do it without our independent agents. We’re so proud of the wonderful work they’re doing to drive out hunger and we’re dedicated to supporting them by maximizing their contributions to help local families in need.”
About OceanPoint Insurance Agency
Headquartered in Middletown, Rhode Island, OceanPoint Insurance Agency, Inc., a BankNewport subsidiary, is a Trusted Choice independent insurance agency providing a broad range of property casualty insurance products, including all types of marine-related insurance products. Tracing its roots back to 1863, OceanPoint Insurance is proud to serve the needs of clients from four full-service offices located in Middletown, Barrington, North Kingstown and Coventry, Rhode Island, forming one of the largest independent insurance agency operations in southeastern New England.
About the Arbella Insurance Group and the Arbella Insurance Foundation
Established in 1988, the Arbella Insurance Group (www.arbella.com) is a company with more than $800M in revenue with approximately $1.5B in assets, headquartered in Quincy, Massachusetts. Arbella is a customer-focused regional property and casualty insurance company, providing personal and business insurance in Massachusetts and Connecticut, and business insurance in Rhode Island and New Hampshire. Arbella Insurance Group founded the Arbella Insurance Foundation in 2004. The mission of Arbella’s Foundation is to engage in activities and to support not-for-profit organizations that have a significant positive impact on the people and communities served by Arbella.
# # #
For more information:
Kathleen Charbonneau
Vice President/Director of Community Relations
BankNewport (401) 845-8673
