Business Moves

The Doctors Co., FPIC

Medical liability insurer The Doctors Co. has completed its previously-announced acquisition of FPIC Insurance Group Inc., a major provider of health care liability insurance in Florida, Texas, Georgia and Arkansas.

FPIC Insurance Group includes First Professionals Insurance Co. Inc.; Advocate, MD; Intermed; and Anesthesiologists Professional Assurance Co.

With the completion of the merger and the addition of 18,000 insureds, The Doctors Co. said it solidifies its position as the nation’s largest insurer of physician and surgeon medical liability, with 71,000 member physicians.

FPIC will function as a wholly owned subsidiary of The Doctors Co., and its operations are being integrated with the company’s existing operations. The company will maintain FPIC’s offices, including its Jacksonville, Fla., headquarters, and Advocate, MD’s office in Austin, Texas.

Markel, WI Holdings

Markel Corp.’s subsidiary Markel Ventures purchased a majority interest in WI Holdings, a Pennsylvania-based manufacturing firm with operations in Texas.

WI Holdings is a privately held company headquartered in Bethlehem, Pa., with a division in Gainesville, Texas. The company manufactures, leases and sells high pressure tube trailers, certified ISO containers and other gas and liquid containers to industrial gas manufacturers, independent distributors and specialty chemical companies.

Markel Ventures is a wholly-owned subsidiary of Markel, a global property/casualty insurance holding company headquartered in Richmond, Virginia.

Markel Ventures makes investments in businesses that operate outside of the specialty insurance marketplace. This investment unit aims to positively contribute to Markel’s long-term financial performance.

HealthSmart Holdings, Wells Fargo TPA

HealthSmart Holdings Inc., based in Dallas, Texas, agreed to acquire Wells Fargo Third Party Administrators Inc., the medical third party administration (TPA) business of Wells Fargo Insurance Services USA Inc.

Wells Fargo TPA offers employee benefits and claims administration services for employers. HealthSmart will acquire all of the operating assets and related liabilities of the TPA. As part of the transaction, HealthSmart will assume the leases for office locations in Charleston, W.Va.; Juneau, Alaska; Fayetteville, N.C.; and Newnan, Ga.; and nearly 600 Wells Fargo TPA employees will join HealthSmart.

Following the acquisition, HealthSmart will have annual revenues of more than $100 million, employ more than 1,000 workers, and manage more than $5 billion in claims.

The acquisition expands HealthSmart’s footprint beyond Texas, Colorado, Ohio and California to the East coast, the company’s announcement said.

Insurance Professionals of Katy

The Insurance Professionals of Katy has affiliated with the International Association of Insurance Professionals (IAIP) (formerly NAIW International) to create a new insurance association in the Houston, Texas, area.

As an IAIP chapter, Insurance Professionals of Katy is a professional association open to individuals in the insurance and risk management industries. The group currently has 16 members and is growing.

The organization’s board of directors includes: Deborah Currie — president/treasurer; Stacey Campo — president-elect; Amy Weimer — secretary; and Tiney Taylor — parliamentarian.

Topics Texas