The deal enables One80 Intermediaries to add an online platform for hard to place risks
One80 Intermediaries has acquired Colorado-based Commercial Insurance Group and its affiliates Strategic Insurance Agency and Bigfoot Insurance for an undisclosed price.
Commercial Insurance Group, which was established in 2007, is a wholesale insurance broker and managing general agent (MGA).
The company specialises in California homeowners insurance and in high-risk property, casualty, and package business.
Commercial Insurance Group will now operate as a division of One80 Intermediaries.
Commercial Insurance Group managing director Martin Burlingame said: “As the insurance market continues to consolidate, we felt it was important to join a larger, rapidly growing organization to further support our agents, providing access to a more expansive product suite.
“One80’s expansion plan, desire to grow and innovative culture was particularly appealing, and we are very much looking forward to this partnership.”
Commercial Insurance Group distributes its products and services to more than 10,000 agents and brokers who are said to leverage its technology and underwriting expertise to access speciality programmes across the US.
The company’s speciality programmes apart from California homeowners include short term rental products, renters insurance, storage contents, general liability, commercial property, inland marine, and commercial package coverages.
Bigfoot Insurance is the company’s proprietary online platform.
The online platform is said to have expanded coverage for short-term and temporary employees along with independent contractors for one or a range of employers.
The Bigfoot Insurance platform also enables agents to quote, bind, and issue policies for stationary homes, container homes, small homes on wheels or sleds, and other small dwellings.
One80 Intermediaries president Matthew Power said: “Since our inception, One80 has specialized in hard to place homeowners and commercial property risks throughout the United States.
“Acquiring Commercial Insurance Group will extend our capabilities to include an innovative, market-leading online platform, Bigfoot, allowing appointed brokers to quote, bind and issue policies for hard to place risks with ease.
“I was extremely impressed with this advanced technology, as it enables Bigfoot to rapidly implement new programs and products meeting the evolving needs of its clients.”
One80 Intermediaries, which has operations across the US and Canada, is a wholesale broker, programme manager, third-party administrator (TPA), and an insurance aggregator.
In December 2020, the company acquired Chicago-based managing general underwriter Brokers’ Risk and Safeware, an Ohio-based insurance agency and TPA for extended warranty and service plan solutions.