The McGowan Companies has purchased the assets of North American Professional Liability Insurance Agency (NAPLIA), it has been announced.
As part of the move, NAPLIA will be re-branded under the McGowan Program Administrators brand, and will function as a division of McGowan & Company, it was confirmed in a release.
NAPLIA, established in 1999, is a program administrator of professional liability, insurance for accountants, bookkeepers, and investment advisors.
“NAPLIA fits exceptionally-well with McGowan’s growth strategy in the professional liability space, particularly with regards its expertise in accountants E&O,” Thomas B. McGowan IV, CEO of The McGowan Companies said. “It’s great to have these well-respected insurance veterans become part of the McGowan team.”
Gary B. Sutherland, president of NAPLIA, said: “We are very excited to become part of McGowan. McGowan has remarkable distribution and technological capabilities. Both will enhance the high-quality service NAPLIA has always provided its clients. Further, McGowan has a goal of being the largest underwriter of Professional Liability in the United States, and we look forward to being a meaningful contributor to that goal.”
All McGowan brokers will now have access to all of the product offerings formerly-administered by NAPLIA. Service staff and commission structures for brokers will remain in place.