Specialty insurance broker One80 Intermediaries reported it has acquired PMC Insurance Group, a workers’ compensation wholesale broker and program manager based in Bedford, Mass. Terms of the deal were not disclosed.
PMC offers exclusive and semi-exclusive specialty insurance programs in industries that include healthcare and home health, trucking and transportation, temporary staffing services, construction, maritime, and social service organizations. PMC also offers risk management and loss control services along with a pay-as-you-go technology platform through PMC PayGo, which allows insureds to pay workers’ compensation premiums based on reported payrolls.
The firm works with thousands of insurance agents nationwide and several leading insurance carriers.
Greg Malloy founded PMC Insurance Group in 1996 and built it to become one of the largest workers’ compensation specialty insurance brokers in the country. Malloy passed away last February.
David Malloy, president, and Andrew Shaw, executive vice president, along with the rest of the leadership team and entire staff, will remain with the firm, PMC said.
Boston-based One80 Intermediaries is a privately held, national specialty brokerage firm with offices throughout the U.S. and Canada. The company offers placement services and binding authority for property/casualty, financial lines, personal lines, cannabis, life insurance, medical stop loss, alternative risk, warranty, lender-based insurance, travel/accident and health risks. One80 has offices in more than 35 locations in the US and Canada
Topics Mergers & Acquisitions Workers' Compensation Talent Massachusetts
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