Two brokerages in the Metro New York region — Cook, Hall & Hyde and Maran Corporate Risk Associates — announced their intention to enter into a merger agreement.
The new firm will be called Cook Maran & Associates. It will continue to service customers from Eastern Long Island, New York, through Southeastern Pennsylvania via its network of offices in East Hampton, Southampton and Melville, New York and Fairlawn and Voorhees, New Jersey.
Len Scioscia, president of Cook, Hall & Hyde, has been named chief executive officer of the new organization. Cook, Hall & Hyde is ranked by Insurance Journal as one of the top 100 privately-held P/C insurance agencies in the U.S.Executives said the two firms are merging to provide an increased level of market opportunities for their production force and an enhanced portfolio of products, services and support for both organizations’ base of commercial and personal customers. The merger is expected to be completed within 60 days of the agreement signing.
The combined organization, Cook Maran & Associates, will provide a wide range of personal and commercial insurance services, including life and individual insurance products, employee benefits, surety and credit risk solutions. With a combined team of 150 professionals the firm will rank among the top privately-held insurance brokerages in the region.
Formed in 1894, Cook, Hall & Hyde has a staff of over 95 professional who serve nearly 8,000 clients through its offices in East Hampton and Melville, N.Y., and Fair Lawn, N.J. It provides a wide variety of insurance products, including commercial and personal insurance products, employee benefits and risk management services. A privately-held ESOP (Employee Stock Ownership Program), it is 30 percent employee-owned.
Headquartered in Southampton, N.Y., Maran Corporate Risk Associates is a full-service insurance agency offering a wide array of insurance products, including commercial insurance, risk management, homeowners insurance, collections insurance, employee benefits, life insurance and estate planning. It is employee-owned with all 50 members of its staff participating in the firm’s stock ownership program.