Business Moves

Sun Belt, Higginbotham & Associates

Sun Belt Insurance & Associates Inc., a Waco, Texas-based commercial and personal insurance and group benefits brokerage firm, and Ft. Worth, Texas-based Higginbotham & Associates Inc., a national insurance and financial services firm, joined forces.

Established in 1988 in Waco, Sun Belt is one of the largest insurance brokerage firms in Central Texas and is under the leadership of Mike Simon, Ben Perry, Gary Carter, David Bell, Jack Henry and Gary Henry. The firm specializes in commercial property and liability insurance, bonds, employee benefits and individual life and health.

Sun Belt is retaining its 16-person staff. Higginbotham’s Waco office, which practices employee benefits and was established in 2006 under the leadership of benefits broker Cindy Brown, will move into Sun Belt’s office.

Higginbotham previously announced it is aggressively expanding operations throughout Texas by joining forces with insurance firms that have strong footholds in their local markets. Within the past year, Higginbotham expanded into Houston, Wichita Falls, Henrietta and Granbury via partner firms in addition to Sun Belt.

U.S. Risk Insurance Group

Dallas-based managing general agency and surplus lines wholesaler, U.S. Risk Insurance Group Inc., rolled out a new online platform through which agents can rate, quote and bind a policy. According to the company’s announcement, through QUOTE-NOW agents may access real time indications and quotes. By completing a short indication request, an agent can get an immediate indication. If the indication is attractive, the agent completes the online application. If the application is accepted, a real time, bindable quote is delivered; the quote can be bound and the policy printed.

QUOTE-NOW is available for miscellaneous healthcare, insurance agents and VOCAL, a workers’ compensation substitute for live entertainment venues. It will soon be available for home inspectors, medical tourism and assisted living under 30 beds, the company said.

Texas Security General, Emerald Surplus

San Antonio-based Texas Security General Insurance Agency Inc. (TSGA) acquired the stock of Emerald Surplus Inc. and is transitioning all business to TSGA, the company announced.

All contracts signed by insurance producers with Emerald Surplus were assigned to TSGA, and all future payments and deposits should be made payable to TSGA. In the announcement TSGA noted that correspondence and payments for accounts transitioned to TSGA should be addressed to: Texas Security General Insurance Agency Inc., 18545 Sigma Road Suite 101, San Antonio, Texas 78258; www.texassecuritygeneral.com.

HCC, VMGU Insurance Agency, Surety Company of the Pacific

HCC Insurance Holdings Inc., based in Houston, acquired two specialty insurance organizations: VMGU Insurance Agency and Surety Company of the Pacific (SCP).

VMGU underwrites lumber, building materials, forest products and woodworking industries. Headquartered in Waltham, Mass., VMGU underwrites lumber and wood products, and operates on a national basis in all 50 states.

VMGU is headed by President Richard D. Hayes, who will remain with the operation. VMGU, which is expected to write approximately $20 million in gross written premium in 2009, will become part of Professional Indemnity Agency, an HCC subsidiary.

SCP, which writes license and permit bonds, is headquartered in Encino, Calif. The transaction is subject to approval of the California Department of Insurance and is expected to close during the first quarter of 2009.

Founded in 1969, SCP specializes in license and permit bonds for California contractors. SCP will be merged with American Contractors Indemnity Co., an HCC subsidiary rated “A” (Excellent) by A.M. Best Co. The merger is expected to add approximately $20 million of premium to ACIC in 2009.

Topics Texas