The staffing industry insurance business offered by World Wide Specialty Programs Inc. was acquired by Philadelphia Insurance Companies, a Bala Cynwyd, Pennsylvania-based company.

Philadelphia Insurance Companies reported the acquisition will enhance its staffing insurance offerings and round out its portfolio of more than 120 niche insurance products. The deal closed Dec. 31; terms were not announced.

“The expertise and insurance solutions delivered by the World Wide team complement our existing specialty business and strengthens our service to customers,” said John Glomb, president and CEO of Philadelphia Insurance Companies. “Access to their team during the pandemic this past year gives us great confidence that culturally this is a fantastic fit.”

World Wide’s staffing business will operate as a division of Philadelphia Insurance Companies. It will assume responsibility for the Philadelphia Insurance Companies’ book of staffing business with support from Philadelphia Insurance Companies’ staff.

World Wide offers industry-specific coverage including employment practices liability, auto liability (hired and non-owned) and workers’ compensation to staffing firm clients and brokers.

“This is an exciting time for World Wide. The acquisition combines two formidable forces, both of us dedicated to the staffing industry, resulting in unmatched service, product offering and reach,” said Dorothy Taylor, CEO of World Wide Specialty.