6/11/2020 | This week in Business Insurance Risk Management Topics, Lawmakers consider bill to limit liability in pandemic which would help insurers facing a tide of claims. Meanwhile, a Coronavirus-related suit against Fox News dismissed and Insurtech deals up, funding down amid pandemic: Willis – Editor
By Matthew Lerner
NFP Corp. acquired LFG Inc., DBA Team Scotti, in a transaction that closed Dec. 1, NFP said in a statement Monday.
Terms of the deal were not disclosed.
Pittsburgh-based broker Team Scotti focuses on providing coverage to Major League Baseball and Minor League Baseball and their affiliates, the statement said, including securing high-limit disability insurance for key players and servicing team group health benefit needs, the statement said.
The founder of the firm, John A. Scotti, will join NFP as a managing director, reporting to Henry Lombardi, executive vice president and head of NFP property/casualty, the statement said.
“John and his team are welcome additions to NFP as we continue our focus on growth driven by recognized subject-matter experts,” Mr. Lombardi said in the statement.
NFP is the 13th-largest broker of U.S. business, according to Business Insurance’s latest ranking. It has about 5,600 employees, according to NFP’s statement.