The Norfolk & Dedham Group

Last updated
The N&D Group
Company type Mutual
Industry Insurance
Founded Dedham, Massachusetts, U.S. (1825)
FounderJohn Endicott
Headquarters,
Number of locations
1
Area served
New England, Mid Atlantic
Key people
Joel Murray (President & CEO)
ProductsPersonal insurance, Commercial insurance
Total assets ~$800 million (2020)
Number of employees
~150
Divisions Norfolk & Dedham Mutual Fire Insurance Company, Dorchester Mutual Insurance Company, Fitchburg Mutual Insurance Company
Website www.ndgroup.com

The N&D Group is a mutual insurance carrier based in Dedham, Massachusetts, comprising three regional property and casualty insurance companies which market personal and commercial insurance product lines through independent insurance agents. The group conducts business in Massachusetts, New Hampshire, and New Jersey, and writes over $400 million in Direct insurance premium. [1] Founded as The Norfolk Mutual Fire Insurance Company in 1825, The N&D Group is one of the oldest mutual insurance companies in the United States. [2]

Contents

History

As early Dedham, Massachusetts residents were establishing new farms and businesses, it became apparent that the community needed financial protection against various risks such as fire. As a result, The Norfolk Mutual Fire Insurance Company was established by a group of prominent citizens, electing John Endicott as the company's first president. [3] In 1847, Norfolk built an office building at 4 Pearl Street in Dedham Square. [4] For the next 40 years, the building also housed the Dedham Institution for Savings, [4] the Dedham Bank, and served as a home for the Norfolk County grand jury. [5]

Throughout the early to mid 1900s, the company quickly grew and expanded to various states in the Northeast. In the 1950s, doing business in 26 states, the group constructed its headquarters building at their current address along the Charles River. After catastrophic events such as Hurricane Andrew, N&D eventually retrenched on its core business and now focuses on general P&C insurance in Massachusetts, New Hampshire, and New Jersey. About 400 independent agencies sell Norfolk & Dedham insurance products. The company employs about 150 people and manages roughly $800 million in assets. [6]

In 2020, the company announced it would be reconstructing its corporate headquarters in Dedham, with demolition of their building in the summer of 2020. The project, which is being constructed on top of the footprint of the old building, is expected to be complete in the summer of 2022. [7] In June of 2022, the construction project was completed.

The companies that make up The Norfolk & Dedham Insurance Group are:

Charity and local service

Through The Norfolk & Dedham Foundation (established in 2017), The N&D Group has supported over 50 local organizations, including Crossroads, [8] the Dedham Community House, Boston Food Bank, Pine Street Inn and the Cristo Rey Network. [9]

Throughout each year, the company conducts volunteer days in support of charitable organizations working locally to the areas the company services.


Related Research Articles

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Norfolk County is located in the U.S. state of Massachusetts. At the 2020 census, the population was 725,981. Its county seat is Dedham. It is the fourth most populous county in the United States whose county seat is neither a city nor a borough, and it is the second most populous county that has a county seat at a town. The county was named after the English county of the same name. Two towns, Cohasset and Brookline, are exclaves. Norfolk County is included in the Boston-Cambridge-Newton, MA-NH Metropolitan Statistical Area. Norfolk County is the 24th highest-income county in the United States with a median household income of $107,361. It is the wealthiest county in Massachusetts.

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Mother Brook is a stream that flows from the Charles River in Dedham, Massachusetts, to the Neponset River in the Hyde Park section of Boston, Massachusetts. Mother Brook was also known variously as East Brook and Mill Creek in earlier times. Digging the brook made Boston and some surrounding communities an island, accessible only by crossing over water, making Mother Brook "Massachusetts' Panama Canal."

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The Norfolk County Courthouse, also known as the William D. Delahunt Courthouse, is a National Historic Landmark at 650 High Street in Dedham, Massachusetts. It currently houses the Norfolk County Superior Court. It is significant as a well-preserved Greek Revival courthouse of the 1820s, and as the site a century later of the famous Sacco-Vanzetti trial. The building was declared a National Historic Landmark in 1972, and is listed on the National Register of Historic Places. It replaced an earlier courthouse, built in 1795.

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The Dedham Bank was a bank in Dedham, Massachusetts. It was located on the corner of High and Pearl Streets.

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References

  1. Company information on AM Best "Consumer Insurance Center". AM Best. Retrieved 2013-11-19.
  2. The Norfolk & Dedham Group website "The Norfolk & Dedham Group". The Norfolk & Dedham Group. Retrieved 2013-11-19.
  3. The Dedham Historical Register. Dedham Historical Society. 1896. Retrieved August 13, 2019.
  4. 1 2 Neiswander, Judy (November 8, 2019). "A new owner for an historic building in Dedham Square". The Dedham Times. Vol. 27, no. 25. p. 8.
  5. Clarke 1903, p. 14.
  6. Hegarty, Tim (2020). 2020 Annual Statement. Dedham, MA: The Norfolk & Dedham Group. p. 4.
  7. "New HQ for Norfolk & Dedham Group Under Official Review". BLDUP. Retrieved 10 February 2021.
  8. "Crossroads Youth Development". Crossroads. Retrieved 2024-09-08.
  9. "The Norfolk & Dedham Group". The Norfolk & Dedham Group. Retrieved 2022-02-14.

Works cited