Acordia Buys Sacia Risk, Renames Agency
NU Online News Service, March 11, 3:05 p.m. EST?Acordia Inc. said it has acquired Seattle-based Sacia Risk Solutions, which will be renamed Digital Risk Managers.[@@]
Terms of the transaction were not disclosed.
Acordia, based in Chicago, a subsidiary of San Francisco financial services firm Wells Fargo & Company, said Digital would operate as a separate underwriting organization from Acordia.
Digital provides insurance and risk management solutions for e-commerce clients. The firm will continue to serve its existing client base of brokers and agents nationwide through its professional liability, technology and network risk product offerings, including its flagship program, the WebNet Protection.
"Other than a new name, it will be business as usual for customers," said Anne DeVries, who was named senior vice president and director of operations for Digital, in a statement. "The Digital Risk Managers team will continue to provide the superior level of service their clients and agents previously enjoyed."
John Sacia, former chief executive officer of Sacia Risk Solutions, will continue to work as a managing director of Acordia's Northwest operations, a position he has held since May 2003.
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