US-based Patriot National has purchased Missouri-based Corporate Claims Management (CCMI), a multi-line provider of claims administration.
Commenting on the acquisition, Patriot National CEO Steven Mariano said: "The acquisition of Corporate Claims Management is our fourth program administrator acquisition in recent months and is consistent with our growth strategy to expand Patriot National’s fee-based product offerings beyond workers’ compensation."
Established in 1992, CCMI provides claims administration services and risk management information systems, as per the specifications of each client.
CCMI is specialized in providing insurance claims administration services to self-insureds and large-deductible plans for general, auto and product liability customers, as well as workers’ compensation services in the Midwest.
In addition, it has expertise in Medicare Secondary Payer Act compliance and turnkey MMSEA reporting platforms across all casualty and workers’ compensation coverage lines.
The acquired business, which reported revenues of around $6.5m in 2014, will be included in the Patriot Risk Services.
Corporate Claims Management president Michael Greco said: "We are excited for the synergies created by blending CCMI into Patriot National, and for the heightened level of services that together we can provide current and future clients."
Patriot National offers technology and outsourcing solutions within the workers’ compensation marketplace for insurance companies, employers, local governments and reinsurance captives.