PCF Insurance buys specialty insurance and home warranty company PWSC
PCF Insurance Services, an American insurance brokerage firm, has acquired Virginia-based specialty insurance and home warranty company Professional Warranty Service Corporation (PWSC).
The financial terms of the deal were not disclosed.
Headquartered in Chantilly, Professional Warranty Service Corporation is engaged in providing risk management solutions across the US. The company is specialized in property management and new home construction industries.
Professional Warranty Service Corporation operates as a managing general agent (MGA), offering to builders, brokers, insurance carriers, property management firms, homeowners, agents, and renters with its expertise, services, and products.
The specialty insurance and home warranty company is said to have a full line of structural and appliance warranty products and solutions on offer for residential builders and property managers.
Tyler Gordy — Professional Warranty Service Corporation President and CEO said: “Joining the PCF family allows PWSC to continue its long tradition of combining insurance and warranty services to bring complete risk management solutions to high-risk industries.
“We are confident this partnership will yield new opportunities to bring innovative solutions to our clients and accelerate our growth.”
PCF Insurance Services said that the acquisition improves it portfolio of offerings and expands its footprint in the construction and real estate industry. Besides, it is said to consolidate its capacity to provide specialty risk management solutions.
Peter C. Foy — PCF Insurance Chairman, Founder, and CEO said: “PWSC has an impressive record of building unique and meaningful warranty-based risk management solutions for home builders, institutional investors, and property managers. Their innovation and commitment to mitigating risk aligns with a holistic solutions approach that is core to PCF’s value proposition and will be beneficial to other Agency Partners and clients within the PCF network.”