Crump P&C Acquires Underwriting Management Firm

Crump Property & Casualty Insurance Services Inc., part of Crump Group Inc., an insurance wholesaler, announced the acquisition of the assets of Target Underwriting Management Corp., a managing general underwriter and program administrator headquartered in Avon, Conn. The acquired assets include Target Insurance Services, Garden State Insurance Services and Florida Liability Assurance Group.

Established in 1998, the operations specialize in professional liability coverages, including specialty programs for accountants, lawyers, staffing agencies, home inspectors and miscellaneous E&O. Products are offered nationwide. One of Target's core capabilities is its Professional Liability System (PLS), which provides online submission entry and clearing, rating, quoting and binding as well as policy issuance and invoicing. Retailers using the system also can make mid-term changes and obtain comprehensive reports on key data elements of their in-force business.

"Target is an important addition to our programs platform and represents a significant expansion of our professional lines underwriting capabilities," says Dave Obenauer, president of Crump P&C. "Target's strong leadership team and contracts with key carriers enables Crump to better serve our retail partners with additional classes and market options."