Essential Insurance, Higginbotham
The Essential Insurance Group LLC, a property/casualty insurance and surety agency serving greater Houston, has joined forces with Higginbotham & Associates, a national insurance brokerage and financial services firm based in Texas.
Under the terms of the agreement, the Friendswood, Texas, agency will maintain the Essential name with founder and President Ryan Moss serving as managing director. Current staff will be retained.
With the addition of Essential Insurance, Higginbotham has a combined staff of 365 employees and 14 offices. Higginbotham is aggressively expanding its operations throughout Texas by aligning with insurance firms that have strong footholds in their local markets. In addition to Essential, Higginbotham has partnered with firms in Arlington, Granbury, Houston, McKinney, Waco and Wichita Falls since 2008.
London American, Travelers
London American Risk Specialists Inc., based in Houston, Texas, has contracted with Travelers Insurance Co. to offer small commercial standard lines business through the firm’s Select Division.
London American will have in-house binding authority for package, commercial auto, and workers’ compensation and umbrella policies for a wide range of classes. It also has the ability to offer commercial auto and workers’ compensation on a standalone basis.
“Acquiring a standard lines carrier is a goal we have been working towards for some time and are thrilled to have Travelers as our insurance partner in this endeavor.” stated Brady F Carruth, chairman and CEO of London American.
Rob May has been assigned as the commercial auto/garage underwriter and Chris Chiodetti will underwrite the packages, umbrella and workers’ comp accounts.
Delta General Agency
Delta General Agency announced it has opened a branch office in Plano to serve independent insurance agents in North Texas.
Wes Bowers, the new branch manager for the North Texas office, is adding additional underwriting and support staff to service North Texas agents. The focus of the office will be on commercial property and casualty risks.
Bowers previously was a branch manager for a national managing general agency. He joined Delta on Jan. 1, 2010.
The new office is located at 3900 Dallas Parkway, Suite 125, Plano, Texas 75093.
Preferred Concepts, Mercator
Preferred Concepts LLC, a national program administrator, has acquired of Mercator Risk Services, a wholesale broker.
Mercator Risk Services is now a wholly owned subsidiary of Preferred Concepts and will continue to trade under the Mercator Risk Services brand.
Preferred Concepts is a privately held organization formed in 1989. It operates out of four offices in New York City, Irvine, Calif., and Westport and Hamden, Conn.
The combined company, with 85 employees in Atlanta, Hartford, New York, San Francisco and Westport, Conn., will remain headquartered in New York.
In January 2006, equity firm Stone Point Capital LLC acquired a minority interest in Preferred Concepts LLC and its affiliates. Stone Point Capital was also behind the formation of Mercator Risk Services in January 2006.
Mercator’s management team has been led by John Addeo as chairman and Christopher Treanor as president and chief executive officer.
Addeo is the former CEO of Alliant Resources. Treanor was formerly CEO of Marsh’s worldwide placement operations.
Treanor will continue in his role as president and CEO of Mercator Risk Services and as senior executive vice president of Preferred Concepts with a broad set of responsibilities, according to the announcement.
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