Las Vegas firms merge

Wednesday, Jan. 22, 2003 | 11:21 a.m.

A shrinking insurance carrier market in Nevada has prompted two Las Vegas insurance agencies specializing in property and construction liability insurance to merge to obtain better pricing and coverage for their clients.

The consolidation of the operations of Leavitt Insurance Agency and LaPorta-Clark-Leavitt Insurance Agency, which took effect Jan. 1, resulted in three employee layoffs. Both offices will move to 7881 W. Charleston Blvd. by April. The merged entity, which has 55 employees, will be known as Leavitt Insurance Agency.

"The merger will enable us to write more than $100 million in premiums in 2003. With greater capacity or volume, it positions us to get better pricing and coverages from insurance carriers, especially at a time when there isn't much availability out there because of the construction defect litigation," said Wade Leavitt, general manager of Leavitt Insurance Agency.