Principals from Paul Hanson Partners, an insurance-program administrator serving the transportation industry, have acquired a majority interest in Universal Insurance Facilities Ltd., a Phoenix-based provider of specialty insurance programs for self-storage operators, day spas and tanning salons. The new company will be branded as Universal Insurance Programs, according to a press release. The transaction closed on Nov. 1.
Randy Tipton will continue as president and Jenny Bortman as vice president, the release stated. “Paul Hanson Partners is a highly respected company with excellent insurance programs, strong carrier partners, and a sophisticated processing system that helps them build their business efficiently and provide great customer service,” Tipton said. “By joining with them, we will increase our capacity for growth and better utilize agents and brokers nationwide to build our programs.”
“Universal is known for its industry-specific expertise and excellent service, and we are very excited to bring our management team and service platform to support their growth,” added Lisa R. Paul, president and CEO of Paul Hanson Partners. “We look forward to building their existing programs through our agent-broker channel and developing new programs through the newly established Universal Insurance Programs.”
Founded in 1992, Universal provides insurance programs including pollution liability, builders' risk, workers' compensation, flood and other coverages. Tipton has been a contributor to industry trade journals and a frequent speaker at self-storage tradeshows and insurance seminars for several decades.
Founded in 1993, Paul Hanson Partners provides risk-management and insurance-placement services nationally to the transportation industry, with specialized expertise in the logistics and moving and storage industries. Based in Napa, Calif., the company currently insures more than 4,000 companies across the nation and is endorsed by several van lines, motor carriers, and state associations.
