Novatae Risk Group, the wholesale division of World Insurance Associates, announced it acquired Specialized Program Solutions (SPS), a managing general agency (MGA) in Chester, New Jersey.
Founded in 2022, SPS specializes in underwriting, marketing and program administration for long-haul trucking risks throughout the U.S.
Christopher Daggett, chief executive officer of SPS, commented that SPS has aspired to transform the way trucking insurance is underwritten by combining technology, real-time data and underwriting discipline. He said joining Novatae allows the firm to “accelerate that vision.”
Terms of the Aug. 1, 2026 transaction were not disclosed.
Iselin, New Jersey-based Novatae Risk Group is a specialty insurance brokerage, managing general agency and program manager providing brokers and their clients with insurance products and services for complex and hard-to-place risks across property, casualty, workers’ compensation, cyber, professional, management, construction, environmental, garage, inland marine/ocean marine and more. Novatae is licensed in all 50 states and serves more than 6,000 clients from 43 offices across the U.S.
World Insurance is ranked #14 on Insurance Journal’s Top 100 Independent Property/Casualty Insurance Agencies list.
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