World Insurance Associates acquires Arizona brokerage

On the heels of acquiring two brokerages, one in North Carolina and one in New Jersey, Tinton Falls-based World Insurance Associates LLC (WIA), said Feb. 25 it acquired Corporate Risk Services LLC and Midwest Risk Management Services Inc. (collectively “Corporate Risk Services”) of Rogers, Ariz. on Feb. 1, 2021. Terms of the transaction were not disclosed.

Corporate Risk Services is an independent insurance brokerage firm. Their products include worker’s compensation, as well as all aspects of commercial insurance from the traditional placement to alternative funding solutions. They have access to multiple markets that enable them to service a broad spectrum of their client’s insurance needs. They specialize in a variety of exposures, including manufacturing, healthcare, schools, municipalities, retail, and transportation.

“We are pleased to have Corporate Risk Services join the World family,” said Rich Eknoian, CEO and co-founder of WIA. “Corporate Risk Services has vast experience meeting their clients’ insurance needs, and we know they will continue to be successful as part of WIA.”

“Our mission has been to provide solutions for our clients’ unique needs in the commercial insurance arena,” says Pete Proffer, President, Corporate Risk Services. “A broker’s understanding of the client’s individual needs and knowledge of the marketplace is beneficial in obtaining the broadest coverage at the best price. We pride ourselves in long-term relationships in the insurance industry to better serve our clients and look forward to continuing this approach as part of the WIA organization.”

Giordano, Halleran & Ciesla provided legal counsel to WIA. Kutak Rock provided legal counsel to Corporate Risk Services. No other advisors, diligence firms or legal counsel were disclosed.

Since its founding in 2012, WIA has completed 97 acquisitions and serves its customers from 99 offices in 23 states and Washington, DC. It has been named a five-time honoree by NJBIZ Fast 50.