CBIZ Acquires Major Provider of Innkeepers' Insurance
CLEVELAND, Feb. 5 - CBIZ, Inc. (NYSE:CBZ) today announced that effective February 1, 2008, it has acquired substantially all the assets of NAIS, Inc., which provides innkeepers insurance programs marketed through James Wolf Insurance and Old Line Insurance. NAIS, Inc., located in Frederick, MD, is one of the largest providers of innkeepers' insurance in the United States.
NAIS, Inc. was initially founded in 1972 as a general multi-lines insurance agency. In 1991, NAIS pioneered a niche insurance program custom designed for the innkeeper industry which successfully combines homeowner and commercial insurance. NAIS, Inc. recorded approximately $2.1 million in revenue over the past 12 months and has approximately 25 employees.
Steven L. Gerard, CBIZ Chairman and CEO, stated, "We are excited to welcome Scott Wolf and his talented team to CBIZ. Their expertise and nationally recognized programs in this fast-growing industry will be an excellent compliment to CBIZ's insurance services."
CBIZ, Inc. provides professional business services that help clients better manage their finances, employees and technology. As the largest benefits specialist, one of the largest accounting, valuation and medical practice management companies in the United States, CBIZ provides its clients with integrated financial services which include accounting and tax, internal audit, merger and acquisition, and valuation. Employee services include group benefits, property and casualty insurance, payroll, HR consulting and wealth management. CBIZ also provides information technology, hardware and software solutions, government relations, healthcare consulting, and medical practice management services. These services are provided throughout a network of more than 140 Company offices in 34 states and the District of Columbia.
Source: CBIZ, Inc.
CONTACT: Lori Novickis, Director, Corporate Relations of CBIZ, Inc.,
+1-216-447-9000
Web site: http://www.cbiz.com/
