Fort Worth, Texas-based independent insurance and financial services firm, Higginbotham, has partnered with Mike Knotts, an insurance agency owner and broker in Bossier City, Louisiana, to establish its first brick-and-mortar in the state.
Knotts, who opened his first agency in 1996, leads a team of 20 commercial insurance and employee benefits professionals that includes expertise in managing group captive insurance programs focused primarily in the transportation industry.
Knotts and his team will operate as Higginbotham and make the captive insurance service available companywide under the name Higginbotham Risk Strategies.
Higginbotham named Knotts a managing director, and he will continue leading the Bossier City team.
The union adds a ninth state to Higginbotham’s footprint and gives the firm specialty expertise in group captive insurance, an alternative to self-insurance whereby a parent group or group of businesses creates an insurance company to provide coverage for itself. This strategy avoids the use of traditional insurance carriers and affords the ability to insure difficult risks and increase cash flow.
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