World Insurance Associates LLC Acquires MedNET Financial, Inc. of Watchung, NJ

Business Wire

TINTON FALLS, N.J.--(BUSINESS WIRE)-- World Insurance Associates LLC, an independent insurance agency headquartered in Tinton Falls, NJ, acquired MedNET Financial, Inc. of Watchung, New Jersey on March 1, 2019.

MedNET Financial, Inc. has been providing insurance protection for the New Jersey and New York healthcare communities since 1984. The company specializes in malpractice insurance and the associated needs of both individual health and dental providers, as well as groups. The MedNET commitment to helping its clients effectively manage their insurance needs continues with the same staff and location in Watchung, NJ.

Owners David M. Monahan, Jr. and Michael A. De Parto, Esq. have joined World Insurance Associates LLC as Principals of the firm.

“Adding medical malpractice insurance to our growing list of specializations is an important step in our evolution as a full-service insurance brokerage operation,” said Rich Eknoian, CEO and co-founder of World Insurance Associates LLC.

“We are thrilled to have joined forces with the World Insurance family. Our complementary offerings will give our clients greater access to products for the changing healthcare marketplace,” said Michael A. De Parto, Esq., Principal. “We will continue the longstanding personal service of MedNET Financial that our clients have come to expect.”

David M. Monahan, Jr., Principal, stated, “It was extremely important to us to find the right fit where our clients would be able to continue their personal relationships with the staff, Mike, and myself. We searched for the right partner for quite some time and know that Rich Eknoian and the World team are a tremendous fit.”

World Insurance Associates LLC is an independent insurance agency headquartered in Tinton Falls, NJ. It offers extensive, cost-effective personal and business insurance solutions in 50 states. The company specializes in transportation, hospitality, self-storage facilities, construction (surety), manufacturers, and law firms. World Insurance Associates also provides group benefits and property and casualty insurance to companies of all sizes in a variety of industries in addition to insurance services for individuals, focusing on coastal properties and high net worth clients. World Insurance Associates began business in 2012, has completed 39 acquisitions, and serves its customers from 25 offices in NJ, PA, NY, CT, RI, ME, OH, FL, and Washington, D.C. The company is ranked #15 on the 2018 NJBIZ 50 Fastest Growing Companies in NJ and #6 in New Jersey’s Top Insurance Brokerages, also by NJBIZ. World Insurance Associates made the 2018 Inc. 5000 list at #1680, has been named a Top 100 Independent Property/Casualty Agency by Insurance Journal, and is a Business Insurance 2018 Best Place to Work. For more information, please visit www.worldins.net.