Insurance brokerage firm Hub International has acquired the assets of Rhode Island-based Rims Insurance Brokerage for an undisclosed amount.
Since 1988, RIMS Insurance Brokerage has been offering medical professional liability insurance along with life, health, disability, worker’s compensation, business owner’s insurance and other coverages.
Hub believes that RIMS’s focus on healthcare industry complements its specialty practices and will strengthen its existing capabilities.
Hub national healthcare specialty practice leader Shawn McLaughlin said: “We are thrilled to have Bob of RIMS Insurance Brokerage Corporation join the Hub Healthcare team, and expand our expertise and services to medical practices and healthcare facilities in Rhode Island.”
RIMS Insurance Brokerage president Robert Anderson, will now join Hub New England and will report to Hub New England’s healthcare specialty practice president Daniel Nissi.
In this month until now, Hub International had acquired the assets of five insurance agencies in North America, including RIMS Insurance Brokerage.
And, on 7 May, Hub acquired the assets of Alberta-based Clarity Benefits Group, an independent, boutique style firm offering employee benefit plans, life insurance, and group retirement plans to large and small companies across Canada.
The deal is expected to strengthen the Chicago-based brokerage firm to strengthen its ongoing strategy in Canada, where it is acquiring capabilities and entrepreneurial talent to develop a comprehensive employee benefits and pension solution.
On 6 May, it acquired the assets of Saskatchewan-based insurance brokerage firm Kelliher Agencies for an undisclosed amount. The firm offers personal, commercial, farm and specialty products insurance. Its focus on the agribusiness industry complements Hub’s Specialty practices.
On 3 May, Hub acquired certain assets of Texas-based Resource Insurance Services, related to its force-placed automobile and lender-placed mortgage and ‘real estate owned’ (REO) operations. RIS specializes in lender placed insurance programs to financial institutions.
On 2 May, the company acquired the assets of First Western Insurance Agency, a South Dakota-based agency, operating from 10 locations across the state. It provides multi-line insurance solutions such as personal, commercial and employee benefits products for its clients.