Brown & Brown Buys Insurance Platform from CoverHound

Brown & Brown Buys Insurance Platform from CoverHound
Brown & Brown Inc. has acquired online insurance platform CoverHound Inc., including its wholly owned subsidiary CyberPolicy, Brown & Brown said in a statement Monday.

CoverHound, which serves small businesses and individuals, will continue to operate independently under Brown & Brown after the acquisition, the statement said.

The online broker provides small business cover including general liability, professional liability, directors and officers, and others, according to its website.

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Steve Boyd, Brown & Brown senior vice president of technology, innovation and digital strategy, said CoverHound will help Brown & Brown’s expansion into the digital insurance marketplace.

Keith Moore, CEO of CoverHound, said the insurtech firm will benefit from Brown & Brown’s strong carrier relationships.

Brown & Brown, based in Daytona Beach, Florida, is the sixth-largest brokerage ranked by brokerage revenue generated by U.S. clients, according to Business Insurance’s most recent ranking.

Source: Business Insurance

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