Integro acquires specialty professional liability brokerPosted On: Mar. 11, 2015 12:00 AM CST
New York-based broker Integro Ltd. has acquired New York-based specialist broker Design Insurance Agency Inc.
An Integro spokesman said terms of the deal were not disclosed.
Design Insurance provides professional liability insurance to architects, engineers and other design consultants in private practice, Integro said Tuesday in a statement. It writes errors and omissions liability coverage for specialty design and construction consultants, and property/casualty coverage for design firms, according to the statement.
Integro said Design Insurance founder Thomas G. Coghlan will continue to lead the business, reporting to Michael Klaschka, co-head of Integro’s management risk practice.
As part of the transaction, Mr. Coghlan is now a managing principal, and all Design Insurance employees are Integro employees, the spokesman said. Design Insurance will continue to work out of its current office, he said.
“Design Insurance adds a new dimension to Integro’s professional liability practice, giving us the capability of providing world-class service to the design professional community, which services the greater construction industry,” Mr. Klaschka said in the statement.