Associated Subcontractors of Massachusetts Announce New Group Insurance Program

The Associated Subcontractors of Massachusetts, Mazonson, Inc. and Acadia Insurance Company today announced a new group insurance program to be offered to the Association's membership allowing member companies access to a comprehensive property and casualty insurance program. This customized program will provide all lines of coverage including Workers Compensation, with loss control services specifically designed for the subcontractor industry segment. The program is being announced at a time when insurance options are diminishing and costs are escalating in a market perceived to be a high-risk industry.

"This program provides our membership with a new insurance option available only through ASM, featuring customized products and services that can help reduce premiums and improve the bottom line," said Monica Lawton, Executive Director for the Associated Subcontractors of Massachusetts. "With Acadia as our carrier and Mazonson as our sponsoring agent, we have a team with a deep understanding of our industry that can truly support the needs of our members," she added.

The Associated Subcontractors of Massachusetts, Inc. (ASM) was founded in 1950, and today represents 300 subcontractors, suppliers and affiliated organizations in Massachusetts and surrounding states, with more than 20,000 employees. ASM members work in every specialty trade-from steel erection and masonry, to drywall and painting-and in every related service industry, from insurance to accounting. Member companies are both union and merit shop, and range in size from the smallest start-up firms to the largest specialty contractors in the region.

The ASM insurance program was developed out of a multiyear project, spearheaded by Mazonson, which surveyed the Association's membership and presented group data to a variety of carriers. The Association's members overwhelmingly supported the establishment of a group program and Acadia came forward with a multi-faceted program answering the needs expressed through the survey within a competitive cost structure. Although the coverage will be available through any Acadia agent, Mazonson has been selected as ASM's sponsoring agent to lead the charge in enrolling ASM members in the new program.

"The program we have put together with Acadia provides a unique opportunity for the Associated Subcontractors of Massachusetts to bring a valuable new asset to its membership," said Bruce MacDougall, Executive Vice President for Mazonson. "Acadia represents a committed carrier with a solid reputation, and this program is being announced at a time when many other carriers are abandoning this industry. We see tremendous potential for success with ASM, particularly as the program develops and we look to implement a Safety Group Dividend down the road."

As one of New England's leading insurance brokers for this industry, Mazonson's Construction Group specializes in risk management programs for the construction-related trades and offers a variety of products and services to support business growth.

About the Associated Subcontractors of Massachusetts

ASM is the leading business association in Massachusetts for specialty contractors, suppliers and service providers in the commercial construction industry. Members include companies large and small, union and open shop, who together who perform more than 80% of the work on all commercial construction in the Commonwealth. ASM is the only organization in the Commonwealth dedicated exclusively to the business issues affecting subcontractors. ASM provides information, resources and contacts to help members run their businesses more profitably. ASM works on legislative and legal issues important to subcontractors working in both the public and private sector, and is widely recognized as the voice of subcontractors-in all trades, both union and open shop. While remaining true to its mission, to protect the rights of subcontractors, ASM works in cooperation with other members of the building team, both generals and architects, to promote fair business practices that benefit the entire industry. For more information on ASM and its member benefits call 617-742-3412 or visit www.associatedsubs.com.

About Acadia

Acadia Insurance Company was formed in 1992 in response to a perceived need for a regional company with roots in the Northeast. Such a company can quickly and professionally respond to the specific needs of the region's people. Acadia is a Maine domestic insurance company, meaning it is organized under Maine law and is overseen by the Bureau of Insurance of the State of Maine. The Acadia companies are licensed to operate in Maine, New Hampshire, Vermont, Massachusetts, New York and several other northeastern states. For more information please call 1-800-773-4300 or visit www.acadiainsurance.com.

About Mazonson, Inc.

Mazonson, Inc., headquartered in Wakefield, Massachusetts is an insurance brokerage for high-growth businesses, providing innovative insurance solutions to regional businesses for over 60 years. Focused on the specific needs of dynamic vertical markets, Mazonson offers its clients comprehensive business solutions, including comprehensive Risk Management and Loss Control programs, Surety Bonding and Employee Benefits. Mazonson's Construction Group has established its reputation as one of the region's leading broker for the construction and building industries, providing innovative programs designed to meet the needs of both large and small firms. Mazonson combines business acumen, client domain experience and comprehensive knowledge of insurance products in a process designed to nurture emerging businesses, protect rapidly growing businesses and manage the complexities of mature businesses. The company is committed to adding value to client relationships by listening, understanding, and responding to individual needs. Mazonson continues to innovate and partner with its clients to manage risk and empower growth. For more information on Mazonson, Inc. and its products and services, call (800) 531-5211 or visit www.mazonson.com

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Organization Contact:
Monica Lawton
Executive Director
Associated Subcontractors of MA
617-742-3412
mlawton@associatedsubs.com

Industry Contact:
Bruce MacDougall
Executive Vice President
Mazonson LLC
781-224-5703
bmacdougall@mazonson.com