BFKN’s Corporate & Securities Group served as legal counsel to Evertree Insurance Services, LLC, a subsidiary of Evertree Insurance LLC ("Evertree"), an emerging, tech-enabled independent insurance brokerage, in its acquisition of Virginia Beach-based, Prosper Group LLC and Prosper Services LLC. The transaction, closed on November 1, 2023, marks a significant milestone in Evertree's strategic growth plan, bringing technology that enables the company to forge embedded partnerships nationwide, bolstering its presence in the Mid-Atlantic region, and strengthening the company's ability to deliver exceptional client services.
"Drew Monroe and his 99-person team have dedicated the last decade to developing cutting-edge technology and solutions for their partners and producers," stated Alex Tuff, Founder and CEO of Evertree. "Together, we are well-positioned to seamlessly integrate and invest on top of proven technology into every facet of our operation and extend embedded solutions to partnerships on a national scale. Importantly, we are excited to onboard the exceptional team they've assembled and are confident that as a combined force we will further our effort to become the preeminent personal lines brokerage firm of the future."
Since its founding in September 2022, Evertree has expanded its workforce to encompass over 210 employees nationwide and established a presence in the Midwest, Mountain, and Mid-Atlantic regions. Evertree’s mission is to be a top-tier provider of technology-enabled insurance solutions, with an emphasis on crafting insurance policies with a strong personal touch for clients while recognizing the vital role played by agents in all communities.
BFKN's legal team was led by partners James R. Whitney and Robert J. Morrow and associate Victoria Rusanova Cordiak. Associate Megan E. Toal counseled Evertree with respect to tax matters and partner Andrew K. Strimaitis and associate Alex Freund provided guidance on employee benefits-related issues. RESPA-related matters were handled by Brent McCauley and Justin C. Steffen. Associate Corwin J. Carr counseled with respect to employment issues.
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