McGowan acquires professional liability insurance specialist M.P. Caplice
The McGowan Companies, an Ohio-based insurance agency, has acquired the assets of M.P. Caplice Insurance Group and associated entities for an undisclosed price.
M.P. Caplice, which will be re-branded under the McGowanPro brand in the near future, is said to be a specialist in professional liability insurance.
The company is claimed to be among the top writers of accountants professional liability (E&O) and lawyers professional liability (E&O) in the US. Apart from placing standard risk accountants and lawyers coverage, M.P. Caplice has expertise in placing “hard to place” accountants and lawyers coverage.
McGowan Companies said that the acquisition of M.P. Caplice consolidates its position among the largest and most diversified program administrators in the US.
Tracy Gardner – Senior Underwriter at M.P. Caplice said: “We are very excited to become part of The McGowan Companies. Its tremendous distribution and technological capabilities will accrue to the benefit of our brokers and policyholders.”
Following the acquisition, M.P. Caplice’s staff will be retained and will be led by Gary B. Sutherland.
Thomas B. McGowan IV – President/CEO of The McGowan Companies said: “This acquisition fits exceptionally-well with McGowan’s national growth strategy.
“We are very pleased to add M.P. Caplice to our portfolio of companies. M.P. Caplice has a strong tradition of providing exemplary products and services to its customers… a tradition which we intend to honor and continue.”