3 benefits news bites: USI, NFP and Advice2Pay

By Allison Bell

January 20, 2017 at 11:18 AM

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USI Insurance Services L.L.C., a major insurance brokerage and consulting firm, has acquired Diversified Insurance Service L.L.C.

Valhalla, New York-based USI now has about 4,400 professionals in 140 offices located in every state. It generates more than $1 billion in annual revenue.

Diversified Insurance, which is based in Elmore, Ohio, is a risk management and employee benefits firm that operates mainly in Ohio. It operates mainly in Ohio.

The companies are not saying how much USI is paying.

Thomas Cassady, the head of USI's Midwest region, said USI has wanted to "invest, expand and grow" in Ohio.

In other benefits news:

NFP Corp., a New York-based insurance broker with 3,400 employees, has acquired Indianapolis-based City Securities Insurance L.L.C. City Securities Insurance sells employee benefits as well as property-casualty insurance. The price of the deal was not disclosed. NFP says it made the deal partly because it wants to expand in Indiana and in other parts of the Midwest.

Advice2Pay, a new Des Moines, Iowa-based billing service organization, has started handling the employee benefits billing and billing reconciliation process for employers, plan administrators, brokers and insurers. The firm organizers include Don Cahalan, who previously was the president and chief distribution officer at Alpharetta, Georgia-based Accord Systems, an Affordable Care Act employer services firm.

Related:

NFP to sell itself for about $1.01B

TD Bank Sells U.S. Insurance Business to USI

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