World Insurance Associates has acquired the business of William P. Smart Associates, based in Fairfield, N.J., effective June 1. Financial terms of the deal were not disclosed.
William P. Smart Associates specializes in serving clients in the entertainment industry, with a primary focus on commercial insurance. The agency also provides some personal insurance and employee benefits services.
William P. Smart, owner of the agency, said the move will allow the firm to broaden its client base and offer a wider range of products and services.
Rich Eknoian (pictured above), CEO and co-founder of World Insurance Associates, said the acquisition will help the brokerage expand its property and casualty offerings. “The addition of this agency will expand World’s offerings in the P&C space,” Eknoian said.
Legal counsel for World Insurance Associates was provided by Giordano, Halleran & Ciesla, while Fortrust Diligence acted as an advisor on the transaction.
World Insurance Associates has also continued its expansion in the Midwest, acquiring Dunaway Insurance Agency and Hoosier Insurance Agency in Indiana. Both agencies are led by Doug Todd, who manages commercial, agricultural, and personal lines accounts.
Earlier this year, World Insurance Associates also expanded its reach in the hospitality sector by acquiring Abacus Insurance and Financial Services of Irving, Texas. Abacus specializes in commercial lines for hotels, motels, and convenience stores, reflecting World’s ongoing interest in niche markets.
Outside of acquisitions, World Insurance Associates has also made changes within its wholesale division, Novatae Risk Group. In August, Novatae CEO Richard Kerr departed the company, and president Nick Greggains assumed all CEO responsibilities.
Earlier this month, World Insurance Associates also named Zach Posey as its new leader of market relationships in September 2025. Based in Chicago, Posey is responsible for engaging with contingent capital providers and insurers to develop solutions for clients and trading partners.
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