Venture Insurance Programs, a national insurance program administrator, has acquired Tidal Solutions, LLC, a Charlotte, NC-based managing general underwriter serving the North American specialty commercial marine market.
Venture will integrate the Tidal Solutions marine products into its portfolio of industry specific insurance programs. The products, which include hull & machinery; protection & indemnity; general liability and maritime employer’s liability coverage, will be marketed nationwide by Venture under the brand TIDAL MARINE through Venture’s agent and broker network. Venture intends to integrate and broaden Tidal’s commercial marine offerings.
Tidal Solutions’ current management will be retained to service and grow the marine program, with David Pearlstein, the current CEO of Tidal Solutions, assuming the role of executive vice president on Venture’s management team. Damon Vaughan has been named senior vice president, Marine Program Management/Development. Keith Lovatt will lead marine sales as senior vice president and Keith Warncken will act as the senior vice president in charge of Marine Underwriting.
The team will be responsible for expanding the marine program nationwide, along with day-to-day management and research & development.
The acquisition also expands Venture’s current network of servicing offices from West Chester, Pa. and Jupiter, Fla. to include Charlotte, and Walnut Creek, Calif., and Berkeley Heights, N.J.
Venture Insurance Programs is a program administrator that designs, underwrites and distributes industry-specific insurance packages. Based in West Chester, Pa., Venture has underwriting alliances with global carrier groups, including Chubb, Allied World, RSUI, USLI, Zurich North America, ACE, Monitor and Lloyd’s of London. Venture provides specialty insurance packages for select vertical industries—including golf and country clubs, golf destination resorts, hotels, resorts, hunting and fishing lodges and city and social clubs.