Business Moves

March 9, 2015

Integro, E&O Pros

Integro Ltd. has acquired E&O Professional Risk Management and Insurance Services Inc. of Mission Viejo, Calif.

Terms of the deal were not disclosed.

E&O Pros founder and CEO Sheri Pontolillo will lead the E&O Pros group within Integro and report to Chuck Shay, co-leader of Integro’s management risk practice.

E&O Pros is a specialized team of brokers focused on niche segments of the E&O marketplace, such as broker/dealer, investment advisor, insurance agent and real estate errors and omissions.

New York, N.Y.-based Integro is an insurance brokerage and risk management firm.

AssuredPartners, Amtech Insurance Brokers

AssuredPartners Inc. has acquired Amtech Insurance Brokers in Latham, N.Y. Terms of the transaction were not disclosed.

Amtech has been providing commercial insurance and risk management services for businesses for the past 22 years. Its industry specialties include construction, welding supply and compressed gas. In addition, the agency has a custom-tailored Drillers Insurance Program for a variety of contractor clients, from water well to environmental to geothermal drillers.

The $2 million revenue agency will continue to operate from its current location under the local leadership of President and Founder Paul Andrews and Vice President Chris McMahon. It will report through Assured SKCG insurance and risk management advisory firm, an AssuredPartners platform company in the Northeast, serving commercial and private clients throughout the U.S. and overseas.

Headquartered in Lake Mary, Fla., AssuredPartners acquires and invests in insurance brokerage businesses across the U.S.

FBinsure, Henry L. Newbury Insurance Agency

FBinsure, an independent insurance agency based in Taunton, Mass., has acquired Henry L. Newbury Insurance Agency, an independent agency in North Attleboro, Mass. Terms of the transaction were not disclosed.

FBinsure said Henry L. Newbury Insurance Agency’s co-owner and president, Jim Newbury, and his brother and agency co-owner John Newbury will maintain their roles within the agency throughout the process to ensure a smooth transition to the FBinsure brand for the agency’s 1,400 clients. They will be taking their leave and retire from the agency after the full transition process has been completed, though there is not a defined timeline, according to FBinsure.

Long time employees of Henry L. Newbury Insurance Agency, Lynne Engel-Homes, Pam Folan, Barbara Stanford, and Linda Kozlowski, will retain their active roles with FBinsure’s growing team. Changes to the agency will be minor, mainly aimed at updating technology and providing greater access to new companies, according to the announcement.

FBinsure is an independent agency, in partnership with Bristol County Savings Bank based in Taunton, Mass., that provides personal and commercial insurance services.

IBTX

San Antonio-based independent insurance agency, IBTX Risk Services, has expanded into the Houston market.

IBTX will expand their client base in the property and casualty, oil and gas, healthcare and risk management fields.

Tim Aguilar, risk advisor and Kathy Havey, account executive are the first two employees in the Houston office.

Aguilar brings more than 30 years of experience in the insurance industry to IBTX with expertise in property, automobile, workers’ compensation, director and officers, professional and general liability, and healthcare benefits coverages for a variety of businesses.

Havey has more than 30 years of experience in the oil and gas, and construction insurance fields.

Palomar Specialty Insurance, Wellington Risk Insurance Agency

Palomar Specialty Insurance Co., based in La Jolla, Calif., has partnered with Fort Worth-based Wellington Risk Insurance Agency Inc. (Wellington), to offer wind-exposed residential property insurance in Tier II counties in Texas.

This represents Palomar Specialty’s first expansion product category outside of earthquake coverage. Palomar Specialty is currently offering select homeowners, standard homeowners and standard dwelling fire coverage through Wellington-appointed agents.

Palomar Specialty Insurance Co. is a recently established catastrophe insurer that has initially focused on writing residential earthquake insurance, commercial earthquake insurance and difference in conditions (DIC) in earthquake-exposed states including California, Oregon and Washington. The company is now an admitted carrier in 17 states.

Wellington Risk Insurance Agency is a member company of the Wellington Insurance Group.

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Insurance Journal West March 9, 2015
March 9, 2015
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