CIC Group, a Buffalo-based boutique commercial insurance consultancy with an office in downtown Rochester, has been acquired by Alterity Group.
CIC Group supports clients in making informed and strategic insurance buying decisions. The firm was founded in 1976 and provides a variety of services, including lender insurance review services, workers’ compensation, construction risk consulting and third-party compliance and monitoring.
Alterity Group, with headquarters in New York City, is a subsidiary of NFP. CIC principals Timothy McMullen, Gina Teresi and Chris O’Donnell will join Alterity in senior management roles.
Teresi has been chief operating officer for CIC and is based in Rochester, where the firm has six employees. A spokesperson said Alterity expects to increase the staff in Rochester next year.
“CIC Group’s deep understanding of the complexities of insurance and the firm’s distinctive consultancy approach makes it a significant and valuable client resource,” Sharla St. Rose, managing director of Alterity, said in a news release. “This acquisition expands the scope of Alterity’s capabilities beyond our core strengths in employee benefits and bolsters our client competencies with exceptional property and casualty and risk management expertise.”
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