Cook, Hall & Hyde and Maran Corporate Risk Associates Announce Intention to Sign Merger Agreement

NEW YORK, and VOORHEES, N.J., Sept. 17, 2012 /PRNewswire/ -- Leading privately-held insurance brokerages Cook, Hall & Hyde (East Hampton & Melville, NY & Fairlawn, NJ) and Maran Corporate Risk Associates (Southampton, NY & Voorhees, NJ) today announced their intention to enter into a strategic merger agreement. The new company, Cook Maran & Associates, is being formed to provide an increased level of market opportunities for agents and an enhanced portfolio of products, services and support for both organizations' base of commercial and private customers.  It is anticipated that the merger will be completed within 60 days of the agreement signing and have a significant impact on the way in which risk management solutions are delivered within the New York tri-state region.

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"Together, the resources of our combined organizations will enable us to provide clients with more of what they choose an insurance brokerage for—more products and services, more points of access and more leverage with leading carriers," said Len Scioscia, President of Cook, Hall & Hyde. Mr. Scioscia has been named Chief Executive Officer of the new organization. "The merger of our two powerful organizations will provide the opportunity to leverage one another's strengths and move more quickly toward our long-term goal of providing the best combination of insurance risk management solutions and highest quality of service to our customers," he added.

Steve Maietta, President of Maran Corporate Risk Associates, said, "Our new team represents the same talented insurance professionals our clients have always counted on to deliver innovative insurance risk management strategies. While the merger will bring greater opportunities and more benefits to our clients and our employees, our commitment to providing superior service to the local marketplace remains the same." Mr. Maietta will serve as Cook Maran & Associates' Commercial Business Leader.

The newly-formed Cook Maran & Associates will continue to service customers from Eastern Long Island through Southeastern Pennsylvania via its network of offices in East Hampton, Southampton and Melville, New York and Fairlawn and Voorhees, New Jersey. The Company will provide a full range of personal and commercial insurance services, including life and individual insurance products, employee benefits, surety and credit risk solutions.  With a

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