By PBN Staff
EAST PROVIDENCE – Starkweather & Shepley Insurance Brokerage Inc., Rhode Island’s largest independent insurance agency, has acquired Braintree, Mass.-based Crosbie-Macdonald MD Insurance Services, Starkweather & Shepley announced Friday.
“We are excited to have Mike Driscoll, a true professional in the medical malpractice field, and his staff at Crosbie-Macdonald join our organization,” Nat Calamis, president and CEO of Starkweather & Shepley, said in a statement. “This acquisition will fit in well with our long-term strategic plan in forming another practice group.”
This marks Starkweather & Shepley’s fifth acquisition in the past two years and their first of 2013. In 2012, Starkweather acquired Bryne Bonding Insurance, Insurance Professionals of New England and the Connecticut-based Fradette Carlson and Ned Miller Agencies.
This latest acquisition adds “another niche and specialty market” to Starkweather’s offerings, the insurance brokerage firm said in a statement.
Crosbie-Macdonald has been a leading provider of insurance services in the medical community since 1910 and was the first agency to provide medical malpractice insurance, according to a release.
“We have maintained a position as one of the premier sources for medical professional liability and other insurance products needed by the medical community,” Michael B. Driscoll, president of Crosbie-MacDonald, said in a statement.
“By joining Starkweather & Shepley, we will to continue to provide superior service and a wider choice of products to both our medical and non-medical clients. We look forward to making our second century as successful as our first,” added Driscoll.
Financial terms of the deal were not disclosed.