Changes at Preferred Concepts: Asset Sale
New York, NY (September 10, 2012) – Preferred Concepts, a leading program underwriter and specialty broker, has completed a sale of select assets to CRC | Crump. This includes the firm’s former Atlanta operations. Preferred Brokerage remains a core business of Preferred Concepts.
The asset sale supports the firm’s niche specialization strategy. The Preferred Brokerage unit remains intact and will continue to provide specialty brokerage services nationwide in parallel with the firm’s program business unit, Preferred Underwriting, which provides umbrella, general liability and property insurance solutions for commercial, habitational and hospitality risks. In addition Preferred Brokerage will complement the firm’s online commercial umbrella liability platform, www.ezumbrella.com and Preferred Advantage, which houses the firm’s professional liability and small business specialists.
Preferred Concepts continues robust business expansion through organic growth, new ventures such as SeaFire Insurance Services, and upcoming acquisitions. Stuart Farber, Chairman and Chief Executive Officer of Preferred Concepts noted, “Preferred Concepts is a successful enterprise and, as always, we remain committed to our clients and business partners across all of our operating divisions.”