USI Insurance Services announced it has closed on the acquisition of certain assets of Toledo, Ohio-based National Insurance Specialists (NIS).
The acquisition is expected to contribute approximately $1.6 million in revenues to USI on an annual basis. Terms of the transaction were not disclosed.
The acquired entity will be integrated into USI Affinity, a division of USI Insurance Services. The transaction makes USI Affinity the number one equipment rental industry insurance broker in the country, according to the announcement.
Doug W. Kreitzberg, CEO of USI Affinity, noted that USI and NIS have many years of combined experience handling rental industry accounts. “This move greatly strengthens USI Rental Specialties’ fully-integrated approach that combines sales, underwriting, customer service, claims and risk control,” he said.
Brian K. Hall, former president of NIS and the new president of USI Rental Services, added: “Our field agents and customer service staff are talented and experienced professionals whose sole aim is to provide high quality service and insurance protection for the client.”
Source: USI Insurance Services