As Florida consumers and businesses cope with a historic insurance crisis and many insurers look to reduce their exposure in the state, NSI Insurance Group, the state’s largest independently owned insurance firm, continues expanding its geographic reach with a new office in Orlando, Florida. The acquisition of Gonzalez Insurance Group underscores the firm’s dedication to serving the local community amidst current market challenges.
Orlando continues to experience significant population growth with nearby metro areas like
Lakeland-Winter Haven, growing by nearly 4%, and Ocala and Port St. Lucie, both increasing over 3%. This surge occurs amidst a challenging insurance landscape as existing carriers in the area have halted new policies and renewals, leaving many without adequate coverage.
“NSI’s deepened expertise in the personal insurance sector and strong relationships with top-rated carriers worldwide have brought additional insurance options to clients in Orlando, expanding the region’s coverage landscape” prior owner of Gonzalez Insurance Group, who will lead the NSI Insurance push into Central Florida.
Florida homeowners are saddled with premiums that are five-times higher than the national average, according to the Insurance Information Institute and OIR 2024 bi-annual Property Insurance Stability Report notes some prices will continue to rise, and more Floridians could be dropped by their insurer.
“Bullish on Florida, NSI continues to expand our geographic footprint, reaching new markets like Orlando, which have seen increased claims and damage estimates,” said Oscar Seikaly, CEO of NSI Insurance Group. “The best remedy for navigating today’s challenging market is working with a team that understands how to evaluate risk and align clients with the right policies. NSI’s addition of Gonzalez Insurance Group will provide clients with an additional layer of experienced advisors who know the ins and outs of Florida’s insurance landscape.”
By combining the strengths of all entities, NSI aims to offer an unparalleled level of service, leveraging their deep-rooted rapport with carriers and understanding of the local market to better serve policyholders at a time when increases in construction costs outpacing inflation, rapidly growing catastrophe exposure and a challenging reinsurance market has led more than a dozen insurance companies to pull out of Florida.
Founded in 1958, NSI has clients in 50 states and more than 100 countries worldwide. With offices in key markets across Florida, the firm provides insurance and risk management solutions to over 40,000 families and businesses. NSI has earned multiple awards recognizing its strategic growth, employee engagement programs, and customer service, including South Florida Business Journal ‘Business of the Year’ finalist, NU Agency of the Year in 2022, and Best Practices Agency by Independent Insurance Agents and Brokers of America, which it received for the eighth consecutive year in 2023. This recognition ranks NSI in the top 10% nationwide and makes it the only Florida insurance agency to earn the distinction for eight years.
