Insurance Technology Industry News

TMCNet:  Rockwood Programs Finalizes Acquisition of Modern Insurance Consultants

[January 18, 2013]

Rockwood Programs Finalizes Acquisition of Modern Insurance Consultants

WILMINGTON, Del. --(Business Wire)--

Rockwood Programs has recently acquired the remaining ownership interest in Modern Insurance Consultants, LLC. Rockwood had originally purchased a majority stake in the Homestead FL-based agency in December 2008.

"We feel this new arrangement capitalizes on the unique strengths of each partner," says Glenn Clark, Rockwood's President. "Mark Lann (original Modern principal) and his team have a proven track record of success in the Insurance Agent's E&O arena, especially in the state of Florida. Rockwood Programs possesses the markets, distribution outlets, and legal status to transact business on a national scale."

Mark Lann will assume the position of Executive Vice Presient. In this capacity, he will be responsible for all Insurance Agent's E&O business written through the newly combined entity. Mark will also take on the task of maintaining and expanding our business relationships with key partners, including the Strategic Independent Agent's Alliance (SIAA), Target (News - Alert) Markets Program Administrator's Association (TMPAA), and the National Association of Surety Bond Producers (NASBP).

"All administrative and back-office operations for both entities will be transitioned to Rockwood's Wilmington Delaware facility," continues Glenn. "Centralizing these tasks will allow us to function more efficiently while still retaining our commitment to superior customer service."

"We are definitely excited to be a part of this new enterprise," states Mark Lann. "As a result of our combined market access, we will be able to offer an even wider array of pricing and coverage term options for our Insurance Agent clients. Modern's existing customer base will also have access to Rockwood's extensive portfolio of other professional and management liability products."

Agency groups, insurance carriers, or affinity organizations interested in establishing a strategic business arrangement with Rockwood should contact Mark Lann. Mark can be reached by calling toll-free at 800-558-8808.

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