Posted on 04 Oct 2010
Crump Property & Casualty Insurance Services, Inc. (Crump P&C) part of Crump Group, Inc., the nation's largest insurance wholesaler, today announced its acquisition of the assets of Target Underwriting Management Corporation, a managing general underwriter and program administrator headquartered in Avon, CT.
The acquired assets include Target Insurance Services, Garden State Insurance Services and Florida Liability Assurance Group. Established in 1998, the operations specialize in professional liability coverages including specialty programs for accountants, lawyers, staffing agencies, home inspectors and miscellaneous E&O. Products are offered nationwide. One of Target's core capabilities is its Professional Liability System (PLS) which provides online submission entry and clearing, rating, quoting, and binding as well as policy issuance and invoicing. Retailers using the system can also make mid-term changes and obtain comprehensive reports on key data elements of their in-force business.
"Target is an important addition to our programs platform and represents a significant expansion of our professional lines underwriting capabilities. Target's strong leadership team and contracts with key carriers enables Crump to better serve our retail partners with additional classes and market options," said Dave Obenauer, president of Crump P&C.
"We couldn't be more pleased to be a part of Crump. Target has worked hard over the last 10 years to produce high quality, stable programs with solid carrier and production partners. Our new ownership offers us the opportunity to enhance that mission and leverage our expertise across Crump's broad distribution network," said Wayne Carter, president of Target Insurance Services.