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Novacore expands US InsurTech footprint with Diesel acquisition

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Novacore expands US InsurTech footprint with Diesel acquisition

InsurTech and specialty insurance provider Novacore has agreed to acquire Diesel Insurance Solutions, a California-based managing general underwriter (MGU) specialising in cross-border trucking, physical damage and cargo insurance, as it looks to expand its presence in the US transportation insurance market.

The acquisition will strengthen Novacore’s Specialty Transportation business by adding underwriting expertise and an established platform focused on carriers and logistics companies transporting goods between the US and Mexico. Following the deal, Diesel is expected to expand beyond its existing physical damage and cargo products into additional specialty transportation insurance lines.

Founded by Jason Wexler, Diesel has developed a specialist underwriting business serving trucking and logistics operators navigating the risks associated with domestic and cross-border freight movements. Wexler will continue to lead the company, with the entire Diesel team joining Novacore as part of the transaction.

The acquisition forms part of Novacore’s strategy to build a diversified specialty insurance platform combining industry-specific underwriting expertise, technology and services. The company targets markets where complex and evolving risks require tailored insurance solutions. Novacore builds on the 35-year history of NSM Insurance Group and develops insurance programmes for specialised industries through its underwriting capabilities, technology and carrier relationships. The company works with more than 20,000 agents across the US and operates over 20 specialty insurance programmes. Diesel Insurance Solutions operates as an MGU, providing cross-border trucking, physical damage and cargo cover for carriers and logistics businesses.

“The acquisition of Diesel Insurance Solutions represents a strategic expansion of Novacore’s Specialty Transportation segment into cross-border trucking, physical damage and cargo coverage.


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