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USI Insurance Services Inc. on Monday said it has acquired broker Ritman & Associates Inc. of Noblesville, Indiana.
Terms of the transaction were not disclosed.
Ritman, founded in 1989, focuses on coverages for lawyers and professionals, small businesses and individuals, a statement said.
Ritman’s operations will be combined with USI Affinity, USI's program business division, which provides insurance, financial and risk management services to affinity organization members, according to the statement.
President Jennifer Ritman and the firm’s team, shown as nine in its website, will join USI Affinity.
Mike Mooney, USI Affinity’s senior vice president and professional liability practice leader, said the deal would allow USI to enhance its legal malpractice suite of products and expand into new territories.
USI Affinity, a division of USI Insurance Services, markets and administers insurance programs for over 440 organizations nationwide, representing more than 22 million association, union and alumni members, the statement said.
USI is the eighth-largest broker of U.S. business, according to the most recent Business Insurance rankings.