B&B Buys Malpractice Brokers
NU Online News Service, April 30, 4:02 p.m. EST?Brown & Brown yesterday announced the acquisition of R. W. Mortimer & Associates Insurance Agents and Brokers, Inc., doing business as HealthCare Professionals' Insurance Services, of Brea, Calif.
Daytona Beach, Fla.-based B&B brokers said the purchase was made by a Brown & Brown subsidiary. The transaction is effective May 1.
HealthCare Insurance Professionals' Insurance Services, with annualized revenues of approximately $2 million, is a brokerage firm specializing in medical malpractice insurance and related property and casualty coverages for physicians and surgeons in both group and solo practice.
HealthCare Insurance Professionals is licensed in 20 states and operates from its Brea office in Orange County. Richard W. "Rick" Mortimer, Jr., HealthCare president and his staff of insurance specialists, will continue to serve clients from this location as a freestanding Brown & Brown operation.
Brown & Brown, Inc. and its subsidiaries provide a broad range of insurance and reinsurance products and services, as well as risk management, employee benefit administration, and managed healthcare services through offices located across the United States.
The company is the among the nation's top 10 independent insurance intermediary organizations.
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