"Tower Group Companies and NBIS have developed a multi-line, risk management-based platform to better serve the needs of insured customers and their agents or brokers," said Kevin Cunningham, executive vice president in a statement.
"This vastly superior programme is better than any I have seen in the specialized heavy equipment and related transport industries in over 25 years."
Cunningham said he is confident the Tower and NBIS programmes will achieve significant interest in the specialty insurance marketplace.
NBIS is a hybrid managing general underwriter (MGU), specializing in insurance programme administration for the heavy construction equipment and related transport industries and in the residential builders and contractors marketplace.
Tower Group Companies is a leading insurance and risk-related services company based in New York City.