Iselin-based World Insurance Associates LLC added the “Best Insurance Agency on Long Island” to its fast-growing team, the firm announced Sept. 27.
WIA said it acquired Cotten Coverage Insurance Agency of Farmingdale, N.Y., on Sept. 1. Terms of the deal were not disclosed.
Founded in 1991 by Bob and Karen Cotten, the agency provides property and casualty personal lines products and services as well as commercial lines products and services to customers on Long Island.
“We know our clients and we know insurance, so our clients have the peace of mind that comes with knowing their insurance agency can help them regardless of how big, small, unique, or specific their insurance needs are,” said Bob Cotten, who started in the industry in 1984 as an associate actuary with Allstate on Long Island.
Cotten said his team looks forward to offering its clients the same quality of service with WIA.
Rich Eknoian, WIA CEO and co-founder, echoed that sentiment: “Cotten Coverage is a successful agency—voted ‘Best Insurance Agency on Long Island’ for 10 years—and I know they will continue providing their clients the excellent service they have come to expect,” he said.
Giordano, Halleran & Ciesla provided legal counsel to WIA and Fortrust Diligence advised it on the transaction. APEX Consulting Inc. provided legal counsel to Cotten Coverage; Agency Brokerage Consultants advised the firm on the transaction.
Since its founding in 2011, World has completed 160 acquisitions and operates out of more than 250 offices in the U.S.
A fast-growing firm
WIA also recently acquired:
- Howard Russell Insurance of East Greenwich, R.I.
- Coverage Specialists Inc. of Pompton Plains
- Allan M. Walker Insurance Agency of Taunton, Mass.
- Gerard P. Smith Insurance Agency of Webster, N.Y.