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World Insurance Associates acquires New Jersey snow and ice contractor specialist
Arctic Risk Specialists, founded in 2014, focuses on commercial insurance for contractor risks including snow and ice management.
World Insurance Associates acquired Arctic Risk Specialists, a Toms River, New Jersey agency that focuses on insurance for contractors, particularly snow and ice management firms, Insurance Business reports.
Arctic Risk Specialists was founded in 2014 and has written commercial coverage for contractors that plow, salt, and clear commercial properties through the winter, according to the outlet.
The deal is described as a way for ARS to expand the range of products and services it offers after joining World, while World said the acquisition will strengthen its presence in New Jersey.
Legal counsel included Giordano, Halleran & Ciesla for World, and Apex Business Consulting and Agency Brokerage Consultants for the ARS side, the report added.