Colonial Claims LLC said Wednesday it has acquired Tampa, Florida-based Premier Adjusting Catastrophe Services Inc., a third-party claims handler for commercial and residential losses.
Terms of the transaction were not disclosed.
The move strengthens Colonial’s daily claims business and adds appraisal and TPA services to its business, while giving Premier additional resources to support growth, the Dunedin, Florida-based loss adjuster said in a statement.
Premier’s core team of 12 employees including co-owners Eileen O’Brien and Brian Auger, along with 20-plus contract desk adjusters, will continue to serve customers out of its Oldsmar, Florida office, a spokeswoman said via email.
“Together, we will be better able to service all types of property, liability, specialty and catastrophe claims nationwide,” John Cerasuolo, Colonial Claims CEO, said in the statement.
A report by insurance broker Marsh Pty Ltd. said that insurers are increasing cyber insurance premiums by 15-20% on an average in Australia following increased claims activity in 2020, Asia Insurance Review reported. Insurers are also demanding more underwriting information and capping limits of cyber coverage.