CONSHOHOCKEN, PA — Novacore has agreed to acquire California-based Diesel Insurance Solutions Inc., expanding its specialty transportation insurance business into cross-border trucking and cargo coverage for freight operators moving goods between the United States and Mexico.
The definitive agreement adds a managing general underwriter specializing in trucking physical damage and cargo insurance to Novacore’s Specialty Transportation segment. The transaction also establishes a platform for expanding Diesel’s underwriting operations into additional transportation insurance products.
Diesel, founded and led by Jason Wexler, provides specialized coverage for trucking carriers and logistics operators, including businesses involved in cross-border freight transportation.
The acquisition will bring Diesel’s entire team into Novacore, preserving its existing underwriting expertise while providing access to the buyer’s agent network, technology and broader specialty insurance operations.
“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,” said Aaron Miller, Novacore’s chief executive officer.
Miller identified cross-border transportation insurance as a specialized market where the company sees opportunities to expand its underwriting business.
Novacore plans to extend Diesel’s product offerings beyond physical damage and cargo insurance into additional specialty transportation lines, allowing the combined operation to address a broader range of risks faced by trucking and logistics companies.
The expansion would give Diesel access to additional distribution channels and operating resources while strengthening Novacore’s presence in transportation insurance.
“Becoming part of the Novacore platform gives our team access to a deep agent network, new technology and the resources to grow,” Wexler said.
The transaction is part of Novacore’s strategy to build a diversified specialty insurance platform through businesses focused on distinct underwriting markets.
Financial terms of the acquisition and an anticipated closing date were not disclosed.
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