Scottsdale, Ariz.-based insurance firms Provident Insurance Group and Eaton & Associates have announced plans to merge, effective Jan. 1, 2016.
The newly formed partnership will operate as Eaton-Provident Group, LLC and will serve commercial market segments primarily in construction, social service industry, transportation and the expansive senior living industry.
Provident Insurance Group owners Tim and Jeff Schmidt, and Greg Budiac CEO of Eaton & Associates, agreed to a buyout of William Eaton, president and founder of Eaton & Associates. All three owners will continue to maintain relationships with their clients.
Eaton reportedly approached the Schmidts and Budiac in July to propose the merger as part of his perpetuation plan for Eaton & Associates, and will remain with the firm as a commercial broker and consultant.
Eaton & Associates is as an independent insurance brokerage with offerings including commercial insurance, surety and employee benefits.
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