EYEWITNESS LOCAL NEWSCommercial Insurance Merges With Larger Entity
from Eyewitness News Online
Reported: Jan. 22, 2014 1:13 PM EST
Updated: Jan. 22, 2014 2:36 PM EST
CHARLESTON, W.Va. (Bethany Simmons) -- A Charleston insurance company has merged with another company in Florida.
Commercial Insurance announced the completion of a merger with AssuredPartners Inc. of Lake Mary, Fla.
Commercial Insurance Services Inc. was founded in 1932 and specializes in commercial insurance, employee benefits services, health care reform consulting, workers' compensation insurance, risk management, human resources consulting, claims management and personal lines insurance.
“We’ve been a strategic partner for our clients for more than 80 years. Aligning our practice with a national firm will allow us to enhance the services we offer our clients through access to an incredible number of insurance products and services offerings,” said Frank A. Baer III, chief executive officer of Commercial Insurance Services Inc. “We’re excited to take this next step for our agency, and to continue helping our clients aggressively manage and mitigate the risk of loss in all its forms.”
Baer said Commercial Insurance "did not put ourselves up for sale – we identified and selected this strategic partner. AssuredPartners offered us an attractive model allowing us to all stay in place to continue providing the high level of customer service and innovative risk solutions our long term clients have come to expect.”
Raye King White, long‐time president of Commercial Insurance, added that the merger is "a terrific opportunity for us."
"Same great service team, same great sales and consulting team and same commitment to our clients and community," White said. "Being aligned with AssuredPartners will give us the tools and support to guide us forward, into the future.”
As part of the merger, 48 Commercial Insurance Services Inc. employees will join AssuredPartners of West Virginia LLC. The agency will continue to operate out of the existing Commercial Insurance locations in Charleston and Morgantown under the local leadership of Baer and White.
Commercial Insurance Services Inc. is AssuredPartners’ second acquisition in West Virginia. In 2011, AssuredPartners purchased Insurance Systems Inc. based in Huntington. Commercial Insurance Services Inc. will become the seventh AssuredPartners platform entity, joining Neace Lukens, headquartered in Louisville, Ky. SKCG, headquartered in White Plains, N.Y.; Jamison, headquartered in West
Orange, N.J.; Dawson Companies, headquartered in Cleveland, Ohio; SRA, headquartered in Kansas City, Kan.; and AHM, headquartered in St. Louis, Mo.
Tom Riley, president and chief operating officer of AssuredPartners Inc., said that
Commercial Insurance Services "embodies the attributes we evaluate when identifying firms for potential acquisitions. Their impressive business acumen, reputation and market footprint all fit with the AssuredPartners desired partner attributes, and this deal will help us grow the AssuredPartners presence in
West Virginia and in the surrounding states. We welcome Commercial Insurance Services employees to the AssuredPartners family, and look forward to providing innovative insurance programs to the clients.”
For more information, visit this website.
-Commercial Insurance photo.
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