Eastern Insurance Group, a wholly owned subsidiary of Eastern Bankshares, is the third largest bank-affiliated insurance brokerage in the US, according to the company’s announcement.
The unit will focus on commercial risks with a specialized approach in niche verticals, such as construction, commercial real estate, hospitality, manufacturing and technology.
The migration is due to admitted carriers not being able to get the rate filings approved in a lot of the states – an issue that is extending beyond California and Florida, to the east coast.
