Business Moves – West

November 19, 2012

Hub International, Raintree

Hub International Ltd. acquired the assets of Raintree Insurance Agency Inc., a San Bernardino, Calif.-based insurance brokerage firm.

Raintree will become part of the California operations of Hub International Insurance Services. The terms of the acquisition were not disclosed.

Chicago, Ill.-based Hub provides property-casualty, life and health, employee benefits, investment and risk management products and services through offices in the United States, Canada, Puerto Rico and Brazil.

IDP Holdings, National Specialty Underwriters

IDP Holdings LLC acquired the hospitality business of National Specialty Underwriters Inc., a Bellevue, Wash.-based specialty commercial insurance program manager.

As part of the transaction, IDP also purchased NSU’s Certus Claims Administration, the company’s specialized hospitality claims handling division. The specialty healthcare division of NSU will continue to operate independently.

IDP is a joint venture acquisition vehicle of Ironshore Holdings (U.S.) Inc. and Distinguished Programs Group LLC hat focuses on the managing general underwriter and program manager segments of the commercial insurance distribution business.

NSU provides a combination of hospitality-specific coverage, risk management and claims administration through Certus. Eligible classes of business include limited, full-service and luxury hotels, resorts and casinos.

CBIZ, Leavitt Pacific

Cleveland, Ohio-based CBIZ Inc. has acquired the employee benefit division of Leavitt Pacific Insurance Brokers Inc. of Campbell, Calif.

Leavitt Pacific Insurance provides employee benefits, retirement plan services, as well as ancillary business support and services to clients in the San Jose region. The acquisition is expected to add 18 employees and roughly $2.5 million to CBIZ annualized revenue, and will be integrated into CBIZ’s current San Jose office.

CBIZ Inc. provides professional business services. CBIZ also provides outsourced technology staffing and support services, real estate consulting services, healthcare consulting, and medical practice management. The company’s services are provided through more than 130 company offices in 37 states.

The Doctors Co., Utah Medical Insurance Association

Utah Medical Insurance Association, a provider of medical professional liability insurance for physicians, and The Doctors Co., an insurer of physician and surgeon medical professional liability, have entered into a merger agreement in which UMIA will be acquired by The Doctors Co. through its wholly owned subsidiary, Underwriter for the Professions Insurance Co.

Following the merger, Underwriter for the Professions Insurance Co. will change its name to UMIA Insurance Co., a Member of the TDC Group of Companies.

With the merger, The Doctors Co.’s number of physician policyholders will grow to 76,000.

The UMIA board of governors unanimously approved the transaction and recommended that UMIA’s subscribers approve the merger agreement. The transaction is expected to close before the end of the first quarter of 2013.

UMIA is a provider of medical professional liability insurance for physicians in Utah, Montana, and Wyoming. It is an Oregon reciprocal insurance company with principal administrative offices in Salt Lake City, Utah. It is managed by USMA Insurance Management Co., its attorney-in-fact.

UMIA is owned by and operated in the interest of its policyholders, referred to as “subscribers.” As a result of the merger, the purchase price will be paid to UMIA’s subscribers, and the subscribers will continue their insurance coverage with UMIA Insurance Co.

Napa, Calif.-based The Doctors Co. has 73,000 members and $4 billion in assets.

From This Issue

Insurance Journal West November 19, 2012
November 19, 2012
Insurance Journal West Magazine

Top Personal Lines Retail Agencies; Assisted Living / Long Term Care; Contractors & Builders

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