USI Insurance acquires brokerage firm Healthcare Liability Solutions
US-based insurance broker USI Insurance Services has acquired property and casualty (P&C) brokerage firm, Healthcare Liability Solutions (HLS).
Terms of the deal have not been disclosed.
Based in Houston of Texas, HLS provides insurance services to healthcare organizations and is specialized in providing professional liability insurance.
The firm provides insurance products to hospitals and hospital systems, physicians and surgeons, locum tenens organizations, managed care organizations, clinics and surgery centers.
It also offers products to labs, dialysis centers, imaging centers, assisted living centers, adult family homes and skilled nursing facilities.
USI regional CEO John Collado said: "HLS has a deep commitment to offering sophisticated, creative and cost-effective solutions, and their experienced staff will help us broaden our reach in the professional liability market.
"We are excited to welcome Denise and her team to the USI family. Their strong insurance knowledge, long-term relationships and technical expertise in healthcare regulations complement our USI ONE Advantage platform."
HLS president Denise Barnes said: "This acquisition allows us to continue customizing insurance programs for healthcare organizations and providers, but now our clients also will enjoy an expanded suite of best-in-class solutions and services provided by a national organization."
In October 2014, USI also acquired employee benefit products and services provider Wallace Insurance / Scott Insurance Services in the US.
USI offers property and casualty, employee benefits, personal risk and retirement solutions to its customers across the US.