otterstedt insurance agency celebrates 100+ years

By: jason rand, harrisonrand

Every day for over 100 years, the Otterstedt Insurance Agency has served continuously as a trusted advisor to its diverse community of clients. From the day Fred Otterstedt opened its doors in 1919 with 3 employees, the agency has been focused on the future and embraced smart and strategic growth to serve a broad array of clients and industries.

Now in its 101st year, Otterstedt occupies a unique space as an insurance powerhouse with 6 locations throughout the state and over 100 employees and represents more than 35 of the nation's most trusted and well-respected insurance providers. This vibrant network of partners and professionals has been achieved through decades of dedication and a culture that remains focused on teamwork within the agency’s extensive footprint. Despite the ongoing mandated COVID-19 closures, Otterstedt’s unique strengths have allowed the workforce to pivot quickly and easily to continue to meet the needs of the organization’s clients in specialized industries.

Over the past 45 years, John R. Lawrence, CIC, MBA, an equity partner at the Pompton Plains branch, has helped build an impressive team of construction and surety professionals who continue to meet the demands of the ever evolving business.

“The pace of this industry has only accelerated and managing our growth takes a special kind of teamwork that integrates all points of view. Our in-house claims department, led by our general counsel and claims manager, Lydia Bashwiner, Esq. CWCP, NJWCP, provides superior insight and guidance to our clients and internal teams. By design, we have focused on emergency preparedness and built relationships based on trust and hard work. As our senior surety experts, Bryan Hyland and Mike Cronin effectively streamlined

Pictured left to right are Bob Casazza, President & JoeParisi, Jr.,Chairman of the Board & CEO.

our remote surety process years ago. We understand the importance of having a plan that is focused on providing uninterrupted service to our clients. In particular, our bid clients are reassured knowing that we’re always at their side as an integral part of their advisory team to support their needs,” Lawrence said. “Senior Commercial Insurance Account Executives Kim Caboara, CIC, CISR and Danielle Carone, CIC in collaboration with the surety team ensure every detail of the bid process complies with contract insurance specifications. Our underwriting team works closely with us so that bid and performance bonds are prepared for pick up or overnighted to the client.”

Joe Parisi, Jr., Chairman of the Board, continues to lead the organization into the future by implementing technology to facilitate and grow the business. His vision has been to integrate the heritage of quality service and expertise that his parents, Lucille and Joe, Sr., fostered in the decades under their leadership of Otterstedt with a technology-forward approach focused on adapting to current community needs and expectations.

“This recent unprecedented event has only strengthened our commitment to the business community. We stand as true partners with our clients and haven't missed a single opportunity to provide the consistent service for which we're known. Our priority has been and will always be our clients and the continuity of their businesses," said Parisi. “I am proud of the fact that we’ve built an incredibly diversified team of industry experts who work together to provide comprehensive coverage to some of the most challenging and ambitious projects in the area. Our collective experience as a team benefits our clients from the standpoint that we are constantly thinking proactively and strategically how to best protect those we serve from every possible angle. This is a distinctive strength of Otterstedt. I know Joe, Sr. and Lucille would be proud of our progress.”