Inszone Insurance Expands East Coast Presence with New Acquisition

In a significant move for the insurance landscape, Inszone Insurance Services has announced its acquisition of Progress Brokerage Group, LLC, a Springfield, Pennsylvania-based agency dedicated to providing insurance solutions for the hospitality sector, including bars, restaurants, and taverns. This acquisition marks a strategic expansion for Inszone into the East Coast, an area that has become increasingly vital for their growth objectives. The deal, which was completed without public disclosure of financial terms, underscores Inszone's commitment to strengthening its foothold in the mid-Atlantic region.

Founded in 2013 by Ed Snow, Progress Brokerage Group carved its niche by fostering strong relationships within the local community, relying heavily on referrals to build a robust book of business. As the hospitality industry faces challenges in securing insurance, particularly due to the withdrawal of standard carriers from the liquor liability and property insurance markets, brokers with established connections like those at Progress have become increasingly valuable. This acquisition not only enhances Inszone's portfolio but also addresses the pressing needs of Pennsylvania's hospitality operators, who are navigating a more complex insurance landscape.

The Shifting Landscape of Hospitality Insurance

The hospitality sector, particularly bars and restaurants, has become one of the most challenging segments in commercial insurance. Several factors contribute to this shift, most notably the increasing difficulty of placing coverage for liquor liability and property risks. Standard insurance carriers have re-evaluated their underwriting criteria and many have decided to pull back from insuring these high-risk establishments.

This trend has pushed businesses into the excess and surplus lines market, where they may face higher premiums and stricter underwriting restrictions. For operators in Pennsylvania and the mid-Atlantic, finding a broker with strong relationships and a deep understanding of this niche market is critical. As the insurance landscape evolves, the need for brokers who can navigate these complexities while offering personal connections remains paramount.

Why Inszone Chose Progress Brokerage Group

Ed Snow, the founder of Progress Brokerage Group, articulated that cultural alignment and operational fit were critical factors in their decision to sell to Inszone. After exploring opportunities with various organizations, Inszone's commitment to understanding their operational model and philosophy stood out. Snow emphasized the importance of accessibility for clients, stating, "In our business, people want someone they can call directly when they need help. That personal connection has always been the foundation of what we do, and Inszone shares that same philosophy."

This shared belief in prioritizing client relationships is vital in an industry that often requires immediate responses and tailored solutions. The existing staff at Progress Brokerage Group will remain intact, ensuring continuity for clients and preserving the agency's established relationships.

Inszone's Growth Strategy and Market Position

Inszone's acquisition of Progress Brokerage Group is part of a broader strategy to expand its footprint on the East Coast, targeting states like Georgia, Florida, and Pennsylvania. The company has established itself as a formidable player in the insurance brokerage sector, ranking among the top three most active US broker buyers in recent years. According to data from OPTIS Partners, Inszone, alongside BroadStreet Partners and World Insurance Associates, accounted for 19.4% of the 753 announced broker mergers and acquisitions in 2025.

Since its founding in 2002, Inszone has completed over 130 acquisitions, with a peak of 43 deals in 2024 alone. This aggressive growth trajectory is supported by significant investments from firms like BHMS Investments and Lightyear Capital, who have provided a combined total of $466 million to fuel Inszone’s expansion efforts. The strategic acquisition of specialized agencies like Progress Brokerage Group is indicative of Inszone's focus on creating a diverse and robust portfolio that meets the evolving needs of clients across various sectors.

Challenges in the Hospitality Sector

The hospitality industry is facing unprecedented challenges, particularly in the realm of insurance. The withdrawal of major carriers from the market has resulted in fewer options for business owners, leading to increased premiums and limited coverage. This situation is compounded by the ongoing repercussions of the COVID-19 pandemic, which has reshaped consumer behavior and operational practices within the hospitality sector.

As bars and restaurants adapt to these changing dynamics, the role of insurance brokers has become more critical than ever. Operators need brokers who can not only provide access to the market but also offer strategic insights and advice on managing risks in an increasingly volatile environment. For many business owners, the right broker can mean the difference between thriving and merely surviving in this challenging landscape.

• Rising premiums: As traditional carriers exit the market, business owners face significant challenges in securing affordable coverage.
• Increased operational risks: The pandemic has forced many establishments to rethink their operational models, impacting their risk profiles.
• Dependence on relationships: Strong broker relationships are essential for navigating the complexities of the excess and surplus lines market.

Key Takeaways

• Inszone Insurance Services has acquired Progress Brokerage Group, enhancing its East Coast operations.
• The hospitality insurance market is experiencing significant challenges as standard carriers withdraw coverage.
• Strong broker relationships are essential for navigating the evolving insurance landscape.
• Inszone's growth strategy includes targeted acquisitions to build a diverse and robust portfolio.
• Maintaining personal client connections is paramount in the hospitality insurance sector.

Frequently Asked Questions

What does the acquisition of Progress Brokerage Group mean for existing clients?

The acquisition of Progress Brokerage Group by Inszone Insurance Services enables existing clients to benefit from a broader range of resources and support. Clients can expect continuity as the current staff remains in place, ensuring that their established relationships and personalized service continue. Inszone’s broader operational capabilities may also provide clients with access to enhanced insurance products and services tailored to the hospitality sector.

How has the hospitality insurance market changed recently?

The hospitality insurance market has undergone significant changes, primarily due to a notable pullback by standard insurance carriers from high-risk sectors such as bars and restaurants. This shift has led to increased premiums and a reliance on the excess and surplus lines market, where coverage options may be limited and more expensive. As a result, operators in the hospitality industry are facing greater challenges in securing affordable insurance, making strong broker relationships even more critical.

What should hospitality business owners look for in an insurance broker?

Hospitality business owners should seek insurance brokers who not only provide access to a variety of coverage options but also demonstrate a deep understanding of the unique risks associated with the hospitality sector. Look for brokers with established relationships within the insurance market, particularly in the excess and surplus lines space, as they will be better equipped to navigate challenges and secure the best possible coverage for your needs. Additionally, consider brokers who prioritize personal connections and offer responsive service, as this can significantly impact your ability to manage risks effectively.

What are the next steps for Inszone in its expansion strategy?

Inszone's next steps in its expansion strategy will likely focus on continuing to identify and acquire specialized agencies that align with their operational philosophy and market needs. Targeting states like Georgia, Florida, and Pennsylvania highlights their commitment to building a strong presence on the East Coast. By continuing to acquire agencies with established community ties and expertise in niche markets, Inszone aims to provide comprehensive insurance solutions that address the evolving challenges faced by clients across various sectors.