Business Moves

Brick Street

West Virginia-based BrickStreet Mutual Insurance has been approved to write workers’ compensation insurance in Illinois.

The move continues an expansion drive for the company, which was approved to write workers’ compensation coverage in Kentucky last year. BrickStreet said it also has plans to become licensed in Virginia, Pennsylvania and Alabama in 2010.

Liberty Mutual, WASB

Liberty Mutual Group is expanding its program offerings for Wisconsin schools available through its partnership with the Wisconsin Association of School Boards (WASB) Insurance Plan.

The WASB Insurance Plan will offer insurance coverage through Pewaukee-based Indiana Insurance, a member of Liberty Mutual Group, as well as through Liberty Mutual’s commercial Middle Market operation.

Indiana Insurance provides commercial insurance in Illinois, Indiana, Iowa, Michigan, Minnesota, Nebraska, North Dakota, South Dakota and Wisconsin.

Liberty Mutual companies insure more than 2,000 school districts across the United States and more than 100 public school districts in Wisconsin.

WASB’s membership includes 425 public school districts and 12 Cooperative Educational Service Agencies throughout Wisconsin. The WASB Insurance Plan was created in 1980.

Great American, Synergy Professional

Great American Insurance Group’s Executive Liability Division (ELD), based in Schaumburg, Ill., appointed Synergy Professional Associates of Kinnelon, N.J., as its national production coordinator for Multi-Employer/Taft-Hartley Plan Fiduciary Liability Insurance. Myles Alonzo will direct the program’s marketing efforts. Alonzo joined Synergy in 2009.

Great American’s ELD has been providing management liability insurance for more than two decades. Its Multi-Employer Plan Fiduciary Liability Underwriting Unit was organized in 2005 and is focused on addressing the personal liability of management and labor union-appointed fiduciaries of multi-employer trust funds.

The policy is admitted in 37 states. Plan types being quoted include defined contribution plans, defined benefit plans, and numerous health and welfare benefit plan types. Individual policies can be written on a plan specific basis or master policies can be created to address multiple plans.

K&K, Leisure Sports

K&K Insurance Group Inc. has acquired Fort Wayne, Ind.-based Leisure Sports Specialists LLC.

K&K has already begun the planned integration of the two companies’ business operations. As part of the initial integration of accounts, Leisure Sports Specialists’ founder Matt Sackett will move to K&K as national sales manager and Mike Larkin will join Tim McGee in leading K&K’s underwriting teams.

K&K Insurance Group Inc., a division of Aon Underwriting Managers (AUM), is a managing general underwriter offering insurance products and services to the sports, leisure and entertainment industries.

Fremont, Michigan Retailers

Fremont Insurance, a Michigan-exclusive property and casualty insurance carrier, has been named as the endorsed insurer of the Michigan Retailers Association (MRA) for the second year in a row.

Fremont has created a group policy that offers a variety of insurance coverage, including business owner’s policies, commercial packages and commercial auto and personal lines to MRA members at discounted rates.

Commercial lines and personal auto rates are available with a 10 percent discount and the homeowners group discount is 15 percent. In addition to MRA members, employees of members are also eligible for home and auto group discounts.

Marsh, Haake

Marsh & McLennan Agency LLC, a subsidiary of insurance broker Marsh Inc., has acquired Haake Companies, a large independent insurance agency headquartered in Overland Park, Kan.

Established in 1926, Haake Companies has annual revenues of $11 million and 70 employees. Haake Companies provides property and casualty insurance, risk control services and employee benefits to corporations in a wide range of industries. The firm has specialty practices in manufacturing, health care/life sciences, hospitality, environmental liability and alternative risk.

It also offers personal lines of insurance.

Acrisure, Greenhill Partners

Greenhill Capital Partners LLC announced it has invested $20 million in Acrisure LLC, a Midwest insurance brokerage company headquartered in Grand Rapids, Mich.

Formed in 2005, Acrisure has acquired 17 insurance agencies since inception and currently places approximately $350 million in insurance premiums.

Acrisure has acquired and partnered with mid-sized independent insurance agencies nationwide that specialize in placing property and casualty, benefits and other insurance lines, primarily with middle-market commercial accounts throughout the Midwest.

New York-based GCP’s investment will support future growth initiatives for the business.

Acrisure serves more than 20,000 clients in Michigan, Illinois, Indiana and a number of other states, and has relationships with around 200 insurance carriers. The brokerage is led by Greg Williams and Rick Norris.

Vortex

Vortex Insurance Agency LLC (Vortex), based in Overland Park, Kan., has created “Drought Shield,” which provides rain insurance that helps to protect the insured against the financial implications associated with depressed natural rainfall.

Drought Shield uses a rainfall index similar to the USDA Risk Management Agency (RMA) pasture, rangeland, and forage program. Payments are calculated using NOAA CPC Rainfall Index gridded data sets using data provided by the National Oceanic and Atmospheric Administration Climate Prediction Center.

If preferred by the insured, a Drought Shield insurance policy may also be obtained that utilizes data from a local weather station for calculating claim payments.

Policy coverage dates can be any period ranging up to one year and must be purchased at least 15 days prior to the coverage period.