Specialty Underwriters & Risk Evaluators LLC has acquired Jackson, Mich.-based WSIB Insurance Agency from the Capacity Group of Companies, headquartered in Mahwah, N.J.
WSIB currently operates as a wholesale broker and is one of the leading providers of motorsports insurance in the country.
WSIB writes approximately $14 million in premium, is considered one of the top providers of insurance in its niche and operates nationwide. Chubb Custom Market is currently the primary provider of insurance of products and services that WSIB provides to the motorsport industry.
David Hatlem, founder and owner of Indiana-based Specialty Underwriters, said the company “will aggressively pursue expanding our reach in the niche of motorsports insurance by building upon WSIB’s long term relationship with our existing carrier partners. In addition, we will target other underserved specialty segments to assist the retail brokerage community and their clients in select niche markets and hard to place risks.”
Holly Shopoff, who has 25 years of underwriting and marketing expertise in the motorsports niche, has joined the company as vice president of motorsport programs, Hatlem said.
WSIB will continue to operate under the WSIB brand name.
Source: Specialty Underwriters & Risk Evaluators LLC