NAPA, CA – paul Hanson Partners, an insurance program administrator serving the transportation industry, today announced its principals acquired a majority interest in Universal Insurance Facilities Ltd, a Phoenix-based provider of specialty insurance programs. The new corporation will be branded as Universal Insurance Programs.
“Universal is known for its industry specific expertise and excellent service, and we are very excited to bring our management team and service platform to support their growth,” said Lisa R. Paul, President and CEO of Paul Hanson Partners. “We look forward to building their existing programs through our agent-broker channel and developing new programs through the newly established Universal Insurance Programs.” Randy Tipton will continue as President and Jenny Bortman as Vice President of Universal Insurance Programs.
“Paul Hanson Partners is a highly respected company with excellent insurance programs, strong carrier partners and a sophisticated processing system that helps them build their business efficiently and provide great customer service,” said Tipton. “By joining with them, we will increase our capacity for growth and better utilize agents and brokers nationwide to build our programs.”
The Napa, CA-based Paul Hanson Partners was founded in 1993, and has developed a reputation as an expert in insurance products. The company currently insures more than 4,000 companies across the nation and is endorsed by several van lines, motor carriers, and state associations.
Universal was established in 1992 and became the largest provider of insurance to salons including tanning salons and now day spas, with additional specialties including self-storage facilities and self-storage pollution liability. The Phoenix, AZ-based company finds insurance solutions for small business owners and has made a long-term commitment to education and development of its personnel to provide a deep level of understanding and talent to the specialty markets it represents.
The transaction closed on November 1, 2015.
