Business Moves

March 8, 2021

Arch, Coalition

Arch Insurance North America and Coalition have formed a multi-year partnership to provide Coalition with long-term capacity for its U.S. and Canada Cyber and Technology Errors & Omissions insurance programs. The capacity will be available through Arch Insurance North America’s carriers.

The partnership with Arch will support Coalition, a provider of cyber insurance and security tools to help businesses manage and mitigate cyber risk, as it continues to grow. Over the past year, Coalition has grown to more than $150 million of run-rate gross written premium (GWP) and serves more than 41,000 organizations. Coalition uses an analytics-based approach and in-house cybersecurity services in addressing cyber risk.

Jay Rajendra, Arch’s chief strategy and innovation officer, said the partnership with Coalition will complement Arch’s existing cyber insurance product offerings.

According to Joshua Motta, co-founder and CEO of Coalition, the company will work with Arch to develop new and advanced predictive analytics capabilities to improve its products.

Arch Insurance North America, part of Arch Capital Group Ltd., includes Arch’s insurance operations in the United States and Canada.

Coalition is backed by global insurers Swiss Re Corporate Solutions, Arch Capital Group Ltd., Lloyd’s of London and Argo Group.

CBIZ, Borden Perlman Insurance Agency

CBIZ Inc., a provider of financial, insurance and advisory services, has acquired Borden Perlman Insurance Agency Inc. of Ewing, N.J.

Founded more than 100 years ago, BP is a fourth generation, family owned property/casualty insurance agency providing liability and risk management, with a specialty in sports programs and high-net-worth individuals to mid-market clients throughout the U.S. BP has 65 employees with approximately $16 million in annual revenue.

CBIZ Inc. is a provider of financial, insurance and advisory services to businesses throughout the U.S.

World Insurance Associates, R.S. Gilmore Insurance Agency

World Insurance Associates LLC has acquired R.S. Gilmore Insurance Agency Inc. of North Attleboro, Mass.

The R.S. Gilmore Insurance Agency Inc. was established in 1938 and has grown to be a large family owned insurance agency in southeastern Massachusetts.

WIA is headquartered in Tinton Falls, N.J., and is a full-service insurance brokerage providing asset and lifestyle protection with risk management, insurance and benefit consulting services for individuals and businesses. Since its founding in 2012, WIA has completed 85 acquisitions and serves its customers from 81 offices in 17 states.

Giordano, Halleran & Ciesla provided legal counsel to WIA. Morrison Mahoney provided legal counsel to R.S. Gilmore. No other advisors, diligence firms or legal counsel were disclosed.

Philadelphia Insurance Companies, World Wide Specialty Programs Inc.

Philadelphia Insurance Companies has acquired the staffing insurance business offered by World Wide Specialty Programs Inc., based in Melville, N.Y.

World Wide will operate as a division of PHLY and assume responsibility for its book of staffing business with support from PHLY’s staff.

The insurance products comprising the business PHLY will acquire are designed and produced by World Wide to address the staffing industry’s unique needs and will continue to do so in the future as part of PHLY’s insurance offerings.

Both PHLY and World Wide Specialty have been doing business for more than 50 years. By adding World Wide’s insurance products, PHLY will enhance its staffing insurance offerings and round-out its portfolio of more than 120 niche insurance products.

World Wide offers industry-specific coverage including employment practices liability, auto liability (hired and non-owned) and workers’ compensation to staffing firm clients and brokers.

PHLY designs, markets and underwrites commercial property/casualty and professional liability insurance products incorporating value added coverages and services for select industries.

Heffernan Insurance Brokers, Porter & Curtis LLC

Heffernan Insurance Brokers, a full-service, independent insurance brokerage firm, has merged with Porter & Curtis LLC, a consultative commercial property/casualty insurance broker.

Porter & Curtis represents Heffernan’s first office on the East Coast. Its founders, William P. Curtis, Jr. and Kenneth F. Porter, will continue to lead the operations, located in Media, Penn.

Founded in 1998, Porter & Curtis LLC is an insurance advisory firm with expertise in religious organizations and sharing economy companies. It offers risk management capabilities, claims advocacy and captive services.

Heffernan Insurance Brokers, formed in 1988, provides insurance and financial services products to a range of businesses and individuals. Headquartered in Walnut Creek, Calif., Heffernan has offices in San Francisco, Petaluma, Menlo Park, Truckee, Bakersfield, Woodland Hills, Los Angeles and Irvine, Calif.; Phoenix, Ariz.; Portland, Ore.; Seattle and Olympia, Wash.; St. Louis, Missouri; and London, United Kingdom.

As part of the next phase of Heffernan’s growth strategy, it is seeking to collaborate with privately held independent brokers across the U.S.

OneDigital, HM Employee Benefits and Risk Management

OneDigital has acquired HM Employee Benefits and Risk Management, located in St. Louis, Mo.

This acquisition is the first to integrate property/casualty into OneDigital’s suite of health, retirement and wealth and human resources consulting services. The partnership represents a turning point for OneDigital as it enters the traditional multiline agency arena.

Founded in 1991 and led by Mike Shanahan, chairman, president and CEO, HM provides employee benefits and risk management services to clients in all 50 states and 60-plus countries. With the acquisition, 130 employees have joined the OneDigital team.

OneDigital is a health, retirement/wealth and HR advisory firm.

NFP, Colburn Risk Holdings

Insurance broker and consultant NFP acquired Michigan-based property/casualty insurance broker Colburn Risk Holdings LLC in a transaction that closed.

ColburnColburn, with offices in Bloomfield Hills and Detroit, Michigan, provides commercial insurance, risk management, personal insurance and claims advocacy to businesses across Michigan and throughout the U.S. With more than 70 years of combined experience, ColburnColburn expands NFP’s presence in the region and enhances existing capabilities. The firm’s expertise includes risk management, complex commercial real estate risks, mergers and acquisitions, and private client/high net worth personal lines solutions.

David Colburn and Robert Colburn, principals of the firm, will join NFP as managing directors and report to Dan Cornwell, a managing director in NFP’s Central region based in Michigan.

Headquartered in New York City, NFP provides specialized property/casualty, corporate benefits, retirement and individual products and services through its licensed subsidiaries and affiliates.

Applied Underwriters, Oklahoma Property and Casualty Insurance Co.

Applied Underwriters’ affiliate, North American Casualty Co., has completed its acquisition of Oklahoma City-based Oklahoma Property and Casualty Insurance Co. (OP&C).

Applied Underwriters plans to make various changes with respect to OP&C, as well as the Texas Insurance Co. (TIC), which is also owned by North American Casualty.

The company’s strategic plans call for repurposing TIC to expand its excess and surplus capabilities nationally in support of the company’s trucking programs and other divisions now organized under Applied Specialty Underwriters, led by Chris Day, and Applied Financial Lines, led by Steve McGill. With the acquisition of OP&C, North American Casualty now encompasses The California Insurance Co., Continental Indemnity Co., Illinois Insurance Co., Texas Insurance Co., Pennsylvania Insurance Co. and Oklahoma Property and Casualty Insurance Co.

World Insurance Associates, LCL Insurance LLC

World Insurance Associates LLC has acquired LCL Insurance LLC of Charlotte, N.C.

According to Rich Eknoian, CEO and co-founder of WIA, the acquisition of LCL Insurance will lead WIA’s expansion into North Carolina. It will build its Charlotte presence around Managing Partner Stewart Little and his team.

Giordano, Halleran & Ciesla provided legal counsel to WIA. Johnston, Allison & Hord PA provided legal counsel to LCL. No other advisors, diligence firms or legal counsel were disclosed.

World Insurance Associates LLC is headquartered in Tinton Falls, N.J., and is a national, full-service insurance brokerage.

Centauri Insurance, Gulfstream Renewals

Applied Underwriters’ Centauri Insurance has acquired the renewal rights to approximately 16,700 policies across Alabama, Louisiana and South Carolina from Gulfstream Property and Casualty Insurance Co. and Gulfstream Select Insurance Co. The transaction is expected to diversify Centauri’s presence as it expands to scale the efficiency of its operations. Regulatory approvals were required in Alabama, Louisiana and South Carolina.

Founded in 2004, Gulfstream Insurance, a Sarasota, Fla.-based insurance company, provides homeowners’ insurance and related services to customers in Alabama, Florida, Louisiana, South Carolina and Texas. Formed in 2006 and based in Sarasota, Fla., Centauri Insurance is a property/casualty insurance company.

USI Insurance Services, Inland Insurance

USI Insurance Services has acquired Spokane, Wash.-based Inland Insurance Inc.

Inland Insurance is an independent risk management and employee benefits agency serving businesses and individuals throughout eastern Washington.

Valhalla, N.Y.-based USI is an insurance brokerage and consulting firm offering property/casualty, employee benefits, personal risk, program and retirement solutions to large risk management clients, middle market companies, smaller firms and individuals.