USI Insurance Services Inc. announced Monday that it has acquired broker Ritman & Associates Inc. of Noblesville, Indiana.
Terms of the transaction were not disclosed.
Founded in 1989, Ritman focuses on coverage for lawyers and professionals, small businesses and individuals, it said in a statement.
Ritman’s operations will be combined with USI Affinity, USI’s program business division, which provides insurance, finance and risk management services to affinity organization members, according to the statement.
President Jennifer Ritman and the company’s team, listed as nine on its website, will join USI Affinity.
Mike Mooney, USI Affinity̵7;s senior vice president and leader of professional liability, said the deal would allow USI to enhance its legal malpractice product line and expand into new territories.
USI Affinity, a division of USI Insurance Services, markets and administers insurance programs for over 440 organizations nationwide, representing more than 22 million association, union and alumni members, the statement said.
USI is the eighth largest broker of US deals, according to the latest Business insurance ranking.