Larry DePalma

Sr. Vice President

As a licensed insurance and bond agent for over 25 years, my duty is to fairly represent your account to the insurance carriers while recommending the correct coverage for your operations. If helping you with contract surety bonds, I will assist you in preparing an acceptable submission for obtaining your desired line of bonding. Me and many of our IOA staff hold the CRIS (Construction Risk & Insurance Specialist) designation. We quote with carriers that match your needs while offering the lowest possible premiums. At proposal time, I will fully explain your options and relative merits of each quote presented.

I have had the pleasure of insuring a wide variety of industries, providing me with a great degree of experience with most of the available Property and Casualty insurance products. While my specialty is Property & Casualty, I am licensed for all lines of coverage (Life, Health, Accident, etc.) including Surplus Lines. Our agency does business in all 50 states.

In the late 1980’s, I began writing insurance and surety bonds for several environmental contractors, which allowed me to form a valuable speciality. Environmental accounts have always required careful attention due to the fact that the policies are not standardized, and coverage has to be compared closely. I continue to service a large book of environmental and other contractor’s for all of their needs.

I have experience writing insurance for the following types of heavy casualty risks: Contractors w/ 250+ tradesmen, Construction Consultants, Environmental & Asbestos Abatement Contractors and Consultants, Manufacturers, Equipment Rental Companies, Sand & Gravel Truckers, Recycling and Demolition firms, Chemical Plants, Marine Oil Terminal, Public Warehouses, Machinery Manufacturers, Wholesale Distributors, Pharmaceutical Manufacturers, Shipping Industry Consultants, Sanitation & Disposal Companies, and many others. I have written site-specific insurance for covering the contingent and direct environmental liability of 20 NJ & NY banks in the past 11 years. I currently insure over 1,600 sites for environmental liability.

In addition, I am a member of the IOA “Risk Score” Risk Management division. We provide larger clients and prospects for our agency with services that allow them to lower their direct and indirect insurance costs by teaching them how to reduce the frequency and severity of claims.

Our focus at IOA is to put you first so you will want to become a long-term client. As an IOA stockholder, I look forward to the opportunity to be of service to you.