Business Moves – East

ACORD, DISA

ACORD (Association for Cooperative Operations Research and Development), the nonprofit global data standards organization for the insurance industry, and DISA (Data Interchange Standards Association), the organization for development of healthcare and cross-industry e-commerce business interchange standards, said that the two organizations will consolidate under the ACORD banner. “This merger allows us to support all insurance standards including healthcare, as well as introducing new industry sectors to ACORD,” said ACORD CEO Gregory Maciag. ACORD standards cover all lines of insurance business including property/casualty, life and reinsurance.

Cross Insurance

Cross Insurance, a subsidiary of Bangor, Maine-based Cross Financial Corp., and one of the largest independent insurance agencies in New England, established a Boston office, specializing in higher education’s insurance and risk management services. Cross Insurance Boston – The Higher Education Division employs a dozen specialists experienced in insurance-based risk management services to universities.

CoreLogic, CDS

CoreLogic, a residential property information, analytics and services provider based in Irvine, Calif., acquired CDS Business Mapping in Middletown, Conn. CDS delivers critical underwriting information to over 700 insurance carriers, agents and brokers nationwide through real-time reports that identify property-specific geographic hazards including distance to coast, flood zones and rating territories. The purchase consideration was $78 million.

Russell Bond, IGTC

Buffalo, N.Y.-based insurance wholesaler Russell Bond & Co. Inc. acquired Independent Garage and Towing Contractors Services Inc. (IGTC), also of Buffalo. IGTC is an insurance purchasing group specializing in coverage for the garage and towing industry and is admitted and available in most states. Most members of the IGTC staff have joined Russell Bond operating as a separate underwriting unit.

Auspice Risk

A new risk management consulting firm recently opened its doors for business in Pennsylvania. Auspice Risk is an independent risk management consulting firm based in West Chester. The firm offers customized risk management services to risk managers, insurance program managers, and brokers and agents.

Topics Agencies Risk Management