Wachovia Purchases Assets of E-Risk Services

Wachovia Corporation of Charlotte, N.C. announced it has completed the acquisition of certain assets of managing general agency E-Risk Services LLC, based in Flanders, N.J.

E-Risk provides management liability insurance for private company clients through its Business and Management (BAM(R)) package product, including directors and officers insurance as well as employment practices liability, fiduciary liability, crime, professional liability and cyber liability insurance.

The insurance coverage is provided through underwriting subsidiaries of ACE USA, rated “A” (Excellent) by A.M. Best and “A+” (Strong) by Standard & Poor’s.