For Jack Naccarato, 2023 was already destined to be a banner year. It’s the 60th anniversary not only of his marriage, but also of the business that he and his new bride Pat founded in their Saugerties basement: Naccarato Insurance. And 30 years ago, Jack was inducted into the Saugerties Sports Hall of Fame Club at that organization’s annual banquet. The insurance business was doing well enough that the family had become active local philanthropists. “We were a major sponsor every year for that banquet,” Jack says.
So, on April 1 of this year, as the induction banquet rolled around again, it was time for some recognition: Jack Naccarato and Naccarato Insurance received the Saugerties Sports Hall of Fame Club’s highest honor, the President’s Award. It was an accolade celebrating not only their support for that institution, but also their many decades of aid to a wide variety of charities, clubs and not-for-profit organizations in Saugerties, New Paltz and Kingston, the communities where the company has its offices. “I really like to give back,” Jack says modestly.
Jack had started his insurance career with the John Hancock Mutual Life Company, but quickly decided that he wanted to strike out on his own. He didn’t give up his full-time day job right away, though. With Pat taking phone messages from his private clients, Naccarato Insurance experienced a “gradual buildup” from its first customer – a life insurance policy that cost $128 – to a thriving concern whose business today approaches $40 million per year in annual premiums.
Before long, the business was doing well enough to hire an assistant to work out of that Market Street basement while Pat raised the two Naccarato children upstairs. Daughter Jacqueline, born in 1964, went on to become a successful detective with the New York State Police’s Bureau of Criminal Investigation. Son John, born in 1967, joined the family business in 1989 and now serves as president and chief operating officer of Naccarato Insurance. “I’m still CEO,” says Jack, who has no plans to retire “as long as I’m still healthy.”
By the 1980s, the business had outgrown its basement birthplace, and Jack was looking for a new site to make both staff and customers feel more comfortable. Off-street parking was also a priority. He had the good fortune to be on friendly terms with a couple who owned a building at the corner of Ulster Avenue and Elizabeth Street in Saugerties and were ready to retire. “The original owners told me, ‘We don’t have any kids to leave it to, so we wanted to sell it to somebody that we like.’ It went really well,” Jack recalls. “My wife decorated the Saugerties office. It’s very cozy.”
Over time, the business bought up two adjacent buildings, expanding its parking capacity as well as office space. The staff is now up to 24 people, some of whom have been employed by Naccarato Insurance for decades. “Dina Cafaldo has been with us for 32 years, and Susan Tiano for 30 years,” says Jack. “Dina and Susan are a big part of this. They treat it like it’s their own.”
The growing company established its New Paltz branch about 25 years ago, opened an office in Kingston’s Stockade District three years ago and is still looking for opportunities to expand to new locations or possibly buy up some other agencies. Naccarato now represents over 60 insurers and is licensed in nine states. “We sell right across the board: life, health, supplemental, group health, property, casualty, liability,” Jack says.
But for all the focus on growing a successful business, the Naccarato family has always placed a high priority on community engagement and volunteerism. Jack, Pat and John have all served on the boards of a variety of local organizations, including various youth sports leagues. Jack credits his wife with reviving the Saugerties Historical Society after an extended period of dormancy, coordinating a fundraising campaign that enabled the Society to acquire a building to use as its headquarters. “The Boys and Girls Club is one of our priorities,” he notes.
The list of beneficiaries of Naccarato Insurance’s corporate philanthropy is far too long to list here, but can be found on the company’s website. Recipients of support range from schools and fire departments to arts, health, land preservation and social services organizations. Saugerties-based groups predominate, although Jack points out that his company was a major sponsor of Taste of New Paltz for many years and more recently bought signage for People’s Place in Kingston. “We just give to so many things across the board,” he says. “We try to help anywhere we can.”
Not-for-profit organizations interested in obtaining sponsorships or other support for their projects can submit an application online at www.naccaratoinsurance.com/community.
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