ISELIN, NJ -World Insurance Associates LLC (“WIA”), a Top 50 Insurance Brokerage, announced today that it acquired Coverage Specialists, Inc. (“CSI”) of Pompton Plains, NJ on July 1, 2022. Terms of the transaction were not disclosed.
Coverage Specialists, Inc., a family-owned agency founded in 2010, provides property & casualty (“P&C”) products and services with a focus on the trucking and transportation industry.
“Coverage Specialists is a client-driven broker servicing the commercial and personal insurance needs of our clients, with the tools and markets to understand those evolving needs,” says Walter Zemlanicky, Co-Owner, CSI. “We also have the knowledge of how the insurance landscape has changed over the years to provide the right policy at a competitive price” adds Jeffrey Scafuro, Co-Owner, CSI. “We look forward to being a part of World and expanding our resources.”
“We are pleased to welcome Coverage Specialists to the World family,” says Rich Eknoian, CEO and Co-Founder of WIA. “They are a team of professionals who have been writing insurance policies for over 35 years, and with their trucking and transportation focus they will fit very nicely with World, as we have our roots in the same industries."
Giordano, Halleran & Ciesla provided legal counsel to WIA, and Keidel, Weldon & Cunningham, LLP provided legal counsel to CSI. No other advisors, diligence firms or legal counsel were disclosed.
About World Insurance Associates LLC
World Insurance Associates LLC (World) is headquartered in Iselin, N.J., and is a nationally ranked, full-service insurance organization providing individuals and businesses with top products and services across personal and commercial insurance, employee and executive benefits, retirement and financial services and human capital management solutions. Since its founding in 2011, World has completed 153 acquisitions and serves its customers from more than 250 offices across the United States. World is ranked #34 on the 100 Largest Brokers of U.S. Business list by Business Insurance, ranked #2 on the Fastest Growing Brokers list by Business Insurance and is a Top-50 ranked personal lines agency by Insurance Journal. For more information, please visit www.worldinsurance.com.
Media Contact:
Jean Wiskowski, Chief Marketing Officer
732-380-0900 Ext. 736
jeanwiskowski@worldinsurance.com
Mergers & Acquisitions Contact:
Bradley Unger, Senior Vice President, Business Development
732-712-2230 Ext. 186