Broker takes majority stake in professional liability agency

The Liberty Co. Insurance Brokers Inc. said Friday it has become a majority owner of Novato, California-based Mitchell & Mitchell Insurance Agency Inc., which specializes in lawyer, certified public accountant and dentist professional liability in California, Oregon, Washington and Nevada.

Terms of the deal, which closed Aug. 10, were not disclosed.

Woodland Hills, California-based Liberty Co. said in its statement that Gary Michell will continue as Mitchell & Mitchell’s president.

The statement said Mitchell & Mitchell has been the exclusive agent for CNA Financial Corp.’s lawyer’s professional liability program in California for nearly 20 years.

The company provides all lines of insurance to its client base, including life, health, commercial and personal.