Liberty makes professional liability buy

The Liberty Co. Insurance Brokers Inc. said Friday it has acquired Thousand Oaks, California-based Gray-Stone & Co. Inc.

Terms of the transaction were not disclosed.

Gray-Stone has wholesale and retail components and specializes in lawyers professional liability coverage.

Gray-Stone has three employees, all of whom will be joining Liberty and retaining their positions, and the acquired company will take on the Liberty name, according to an email from a spokesman.

Woodland Hills, California-based Liberty said the deal expands its reach in the professional liability sector.