CBIZ Acquires Md.-Based NAIS

February 6, 2008

CBIZ Inc. announced the firm has acquired substantially all the assets of NAIS Inc. effective Feb. 1, 2008. NAIS provides innkeepers insurance programs marketed through James Wolf Insurance and Old Line Insurance. NAIS, located in Frederick, Md., is one of the largest providers of innkeepers’ insurance in the United States.

NAIS was initially founded in 1972 as a general multi-lines insurance agency. In 1991, NAIS designed a niche insurance program custom designed for the innkeeper industry that combines homeowner and commercial insurance. NAIS recorded approximately $2.1 million in revenue over the past 12 months and has about 25 employees.

“We are excited to welcome Scott Wolf and his talented team to CBIZ,” Steven L. Gerard, CBIZ chairman and CEO, said. “Their expertise and nationally recognized programs in this fast-growing industry will be an excellent complement to CBIZ’s insurance services.”

CBIZ provides professional business services such as benefits, accounting, valuation and medical practice management in the United States. CBIZ also provides employee services, including group benefits, property and casualty insurance, payroll, HR consulting and wealth management.

Source: CBIZ Inc.

Topics Mergers Maryland

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