NU Online News Service, Oct. 4, 2:49 p.m. EDT
Roseland, N.J.-based insurance wholesaler Crump Group announced its subsidiary, Crump Property & Casualty Insurance Services, has acquired Target Underwriting Management Corporation.
Terms of the transaction were not disclosed.
Avon, Conn.-based Target is a managing general underwriter and program administrator. The acquired Target assets include Target Insurance Services, Garden State Insurance Services and Florida Liability Assurance Group. These operations offer nationwide professional liability coverages, including specialty programs for accountants, lawyers, staffing agencies, home inspectors and miscellaneous errors and omissions.
Dave Obenauer, president of Crump P&C, said, "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 enable Crump to better serve our retail partners with additional classes and market options."
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