Coastal Insurance Underwriters and Cybercom Acquired by Constellation Affiliated Partners

Constellation Affiliated Partners recently acquired the Coastal Insurance Underwriters (Coastal) and Cybercom. However, the company didn’t disclose any financial terms of the process. With this acquisition, Constellation will continue to expand its product offerings to the Condominium Association and Homeowner’s Association marketplace. According to Bill Goldstein, CEO of Constellation, “These new business classes complement many of their existing programs and will provide increased product access to clients.”“The Coastal and Cybercom team bring a wealth of knowledge and innovative web-based programs. Their proprietary technology platform and deeply experienced underwriters will be a great addition to our growing portfolio of innovative, high-quality MGAs, program administrators, and wholesalers in the insurance industry.”

Founded by President/CEO Charles “Chuck” Bushong in 2007, Coastal Insurance Underwriters is an insurance program administrator providing unique products to the Community Association marketplace. Coastal underwrites property, general liability, golf & country club, crime, D&O, equipment breakdown, workers’ compensation, and private flood insurance products. The Coastal currently underwrites insurance in California, Alabama, Kentucky, Florida, Texas, Georgia, and Tennessee. “Over the last 13 years Coastal has grown to offer a multitude of unique insurance products and cutting-edge technology designed to meet the needs of the ever-changing insurance marketplace,” stated Bushong. “We look forward to accelerating our growth as part of the Constellation portfolio of companies, utilizing Constellation’s established relationships to continue to diversify our programs and expand our footprint throughout the U.S.”

Constellation is positioned to take advantage of the robust web-based platform designed by the team at Coastal subsidiary company Cybercom.“This powerful tool quotes, underwrites, binds, and issues insurance policies to agents in real-time,” added Bushong. “The platform was designed to leverage automation and provide agents with a simple, 24/7 solution to even the most complex insurance opportunities, while providing carriers access to timely underwriting data and risk exposure information.”

Cybercom currently provides technology development services to Coastal and third-party clients throughout the country.