Business Moves

September 9, 2013

Markel Ventures, Eagle Construction

Markel Ventures Inc. announced that it acquired Eagle Construction of VA LLC and its affiliated entities. The terms of the transaction were not disclosed.

Markel Ventures invests in businesses outside of the specialty insurance marketplace. It’s a subsidiary of Markel Corp. in Glen Allen, Va.

Founded in 1984, Eagle Construction mostly engages in the construction of single family residential homes in Virginia. Through its subsidiaries Eagle Realty, Eagle Commercial Construction and NAI Eagle, the Glen Allen, Va.-based Eagle Construction also provides residential realty, commercial construction and commercial realty services.

Eagle will be the fourteenth company in the Markel Ventures family of companies.

MarketScout, MSW

MarketScout Corp., an insurance distribution and underwriting company headquartered in Dallas, has acquired 100 percent of the stock and assets of MSW.

MSW will convert from a generalist brokerage to a specialty intermediary providing access to unique and exclusive products in areas that require highly technical expertise.

MSW has engaged 11 new brokers who are specialists in areas such as products liability, high-value homeowners, sports and leisure, social services, agents E&O, and energy business.

MSW is now a 100 percent wholly owned subsidiary of MarketScout Corp. with locations in Florida, Indianapolis, New Jersey and Texas. MarketScout owns the MarketScout Exchange as well as over 40 other online and traditional underwriting and distribution venues.

Specialty Underwriters & Risk Evaluators, WSIB Insurance

Specialty Underwriters & Risk Evaluators LLC has acquired Jackson, Mich.-based WSIB Insurance Agency from the Capacity Group of Cos., headquartered in Mahwah, N.J.

WSIB currently operates as a wholesale broker and is one of the leading providers of motorsports insurance.

WSIB writes about $14 million in premium and operates nationwide. Chubb Custom Market is currently the primary provider of insurance of products and services that WSIB provides to the motorsport industry.

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.

WSIB will continue to operate under the WSIB brand name.

Fidelis Group Holdings

Fidelis Group Holdings LLC, through its subsidiary company Continental Underwriters Ltd., announced the formation of an inland marine division. The new unit will be based in New York.

The new division will be underwritten through Fidelis Group Holdings’ established relationship with Houston Casualty Co., a subsidiary of HCC Insurance Holdings Inc. The group will underwrite a broad-based inland marine portfolio on a national level.

Headquartered in Covington, La., Fidelis Group Holdings provides primary and excess marine insurance for hull and maritime liability coverages (P&I) for vessel owners, ship builders, terminal operators, fleet operators, stevedores, cargo handlers, marine contractors and a variety of other maritime insurance products.

ECM Solutions, Ferguson Agency

ECM Solutions of Charlotte, N.C., which sells commercial and personal insurance along with risk management services, has acquired the Ferguson Employee Benefits Agency in Greenville, S.C.

ECM Solutions was founded in 1987 and has more than 6,000 clients. Founded in 1980, Ferguson Agency specializes in employee benefit packages for large employers.

The Charlotte agency will remain ECM Solutions; Greenville’s former Ferguson Employee Benefits Agency will be known as ECM/Ferguson Solutions.

Jim Muse will serve as president of the new company. He has been with ECM Solutions since its inception in 1987.

Jeff Haney, a partner and treasurer of ECM Solutions, is slated to become president of the company in January.

Poms & Associates

Poms & Associates Insurance Brokers Inc. has expanded to a new 20,000-square-foot office space in Northern California and launched its construction risk practice.

The new practice will offer insurance, surety bonding and risk advice to the construction industry, including owners, contractors, developers, subcontractors, builders and real estate investors.

Poms has offices in California, Colorado, New Mexico and Washington.

The Buckner Co.

The Buckner Co. opened a new office in Boise, Idaho, and named as head of the operations Chad Williams, who spent the past decade in the Boise commercial insurance arena.

Expanding into the Boise market has been a long-term goal of the firm, which has opened two other Idaho offices in recent years.

Williams works with clients in the nonprofit and social services sectors, technology firms, manufacturing and agriculture.

Salt Lake City, Utah-based The Buckner Co. has five offices throughout the West.

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Insurance Journal West September 9, 2013
September 9, 2013
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