DeCotis Insurance Associates, Inc., in Providence, Rhode Island, has purchased the business of U.S. Risk of Rhode Island, Inc., that state’s affiliate of the Dallas-based national broker U.S. Risk Insurance Group. Both offices will be consolidated at the 201 Wayland Ave. office of DeCotis.
According to Liz Sherre, assistant underwriter at DeCotis, no employees are being added with the acquisition, which involves professional liability, employment practices liability and miscellaneous errors and omissions accounts from U.S. Risk.
The selling of the Rhode Island book of business was a relatively small transaction for U.S. Risk and does not lessen U.S. Risk’s commitment to the Northeast market, Mac Wesson, president and chief operating officer of U.S. Risk, told Insurance Journal. U.S. Risk maintains offices in nine locations nationwide, including New Jersey and Connecticut.
No details on the transaction were released.
DeCotis is an independent surplus and specialty lines wholesaler headed by Paul DeCotis.
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