Philadelphia Insurance Companies (PHLY) has acquired the Staffing Insurance Business offered by World Wide Specialty Programs Inc., based in Melville, N.Y.
World Wide will operate as a division of PHLY and assume responsibility for its book of staffing business with support from PHLY’s staff. The deal closed on December 31, 2020, and terms will not be disclosed.
The insurance products comprising the business PHLY will acquire are designed and produced by World Wide to address the staffing industry’s unique needs and will continue to do so in the future as part of PHLY’s insurance offerings.
Both PHLY and World Wide Specialty have been doing business for more than 50 years. By adding World Wide’s insurance products, PHLY will enhance its staffing insurance offerings and round-out its portfolio of more than 120 niche insurance products.
World Wide offers industry-specific coverage including employment practices liability, auto liability (hired and non-owned) and workers’ compensation to staffing firm clients and brokers.
PHLY designs, markets and underwrites commercial property/casualty and professional liability insurance products incorporating value added coverages and services for select industries.
Source: Philadelphia Insurance Companies
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