View the full press release here: Eaton-Provident PRWeb Press Release
Provident Insurance Group and Eaton & Associates Insurance Announce Merger
Scottsdale, Ariz. insurance firms Provident Insurance Group and Eaton & Associates. have announced plans to merge, effective Jan. 1, 2016. The newly formed partnership will operate as Eaton-Provident Group, LLC.
“Both companies believe that doing the right thing is paramount.”
SCOTTSDALE, ARIZ. (PRWEB) DECEMBER 14, 2015
Provident Insurance Group, LLC, a multi-generational independent insurance agency based in Scottsdale, Ariz., and Eaton & Associates, an independent insurance brokerage firm also based in Scottsdale, have announced plans to merge. The newly formed entity will begin operating as Eaton-Provident Group, LLC on Jan. 1, 2016. The merger combines professional and national marketing expertise acquired over more than three decades.
The new firm will continue to lead the Arizona market in superior customer service for established and growing market segments by building on strong customer relationships, individual and corporate risk analysis and the latest technology.
Provident Insurance Group owners Tim and Jeff Schmidt, and Greg Budiac CEO of Eaton & Associates agreed to a buyout of William Eaton, President and Founder of Eaton & Associates. Both firms have a long history of collaborative efforts serving Arizona and National clients.
All three owners will continue to personally maintain relationships with their clients.
The Eaton-Provident Group will serve commercial market segments primarily in construction, social service industry, transportation and the expansive senior living industry. E-P staff is organized to serve small businesses as well as large firms needing risk management expertise.
In addition, separate operating departments have been expanded to provide expertise to the group health and employee benefit market, bonding and growing personal insurance markets requiring a more holistic approach.
Established in 1980, Eaton & Associates sets a traditional, time-honored standard for business growth and operations. Provident Insurance Group, founded in 2014, adds a focus on growing business by leveraging technology, recruiting young talent and establishing a tech-savvy operational standard.
Eaton approached the Schmidts and Mr. Budiac in July to propose the merger as part of his perpetuation plan for E&A, and will remain with the firm as a commercial broker and consultant.
“Knowing that there is a tremendous age gap among insurance professionals in the industry as a whole, it seemed like a perfect fit,” Jeff Schmidt says. “Eaton & Associates brings an experienced staff to the table, capable of passing decades of insurance industry experience and insight on to Provident’s younger professionals.”
Upon launching Provident, Jeff Schmidt, who began his career 10 years ago at age 19, began recruiting and grooming young, motivated people eager to establish careers in the insurance industry. Schmidt’s expertise includes professional liability insurance for the senior care and medical industry.
Celebrating his 30th year as an independent insurance agent, Provident co-founder Tim Schmidt previously established two independent insurance agencies—Southwestern Capital Insurance in 1989, and Southwest Insurance Brokers in 2008. Schmidt’s expertise includes property and casualty coverage for contractors, transportation companies and commercial property managers.
Budiac spent more than 15 years in the construction industry as chief financial officer for two Phoenix-based general contractors before joining the Eaton team as an account executive in 2002. This experience allows him to contribute a unique perspective to the Provident-Eaton team on the impacts and outcomes of insurance decisions within an organization. In 2010 he was promoted to the position of Eaton & Associates CFO and in 2011 he was named CEO taking on the responsibility of setting the agency’s strategic vision. Budiac’s expertise includes surety and property and casualty coverage for contractors and social service organizations.
Provident and E&A share common philosophies and values on conducting business, based on a firm commitment to ethical practices.
“Both companies believe that doing the right thing is paramount,” Jeff Schmidt says. “When you do the right thing, regardless of consequences, positive results and success follow.”
While a majority of insurance industry agencies trend toward corporate ownership, Eaton-Provident Group will remain privately owned and managed, and is positioned to join the top 10 percent of Arizona’s largest independent and privately-owned insurance firms.
The newly established Eaton-provident Group will continue to focus on recruitment and development of young professionals, providing mentorship and pathways to insurance industry careers.
The new Eaton-Provident corporate offices are located at 3333 N Hayden Rd., Scottsdale.
For more information about Eaton-Provident Group, or to inquire about career opportunities, visit the Eaton-Provident Group website, email JSchmidt(at)E-PGroup(dot)com, or call 480-941-4895.
About Provident Insurance Group:
Provident Insurance Group, LLC is a multi-generational independent agency specializing in personal insurance and small to mid-range commercial accounts. Licensed in 42 states and representing many of the industry’s top insurance companies, the Provident team searches the marketplace for the most beneficial product matches to meet its clients’ needs. Partner-owners Tim Schmidt and Jeff Schmidt place top priority on the trust and confidence their clients bestow on them to provide guidance and protect their valuable assets.
About Eaton & Associates:
Locally owned and operated in Scottsdale, Ariz., Eaton & Associates was established by Bill Eaton in 1980 as an independent insurance brokerage specializing in personal and commercial insurance primarily in the construction and non-profit industries. As the firm continued to grow, so did its product offerings, which now includes commercial insurance, surety and employee benefits for all industries along with life and health insurance. For 30 years, E&A has built a reputation on its commitment to establishing and retaining strong relationships with clients and industry partners.