Hickok & Boardman Insurance Group

What Hickok & Boardman Insurance Group does

Hickok & Boardman Insurance Group is an independent insurance agency headquartered in Burlington, Vermont, with six offices across Vermont (Burlington, Stowe, St. Albans, Montpelier, Lyndonville) and Northern New York (Plattsburgh). Founded in the early 1820s, the firm offers personal lines (auto, homeowners, boat/watercraft, motorcycle, snowmobile, and personal umbrella) and commercial lines (construction, hospitality, manufacturing, healthcare/social services) through multi-carrier representation. It also provides surety and fidelity bonding and operates a dedicated Safety & Risk Management practice staffed by in-house licensed workers compensation adjusters and OSHA-certified safety consultants who deliver loss prevention services, OSHA 10/30 training, and experience modification audits.

The agency monetizes primarily through carrier commissions on placed policies and ancillary fee-based services (OSHA training, loss prevention consulting), with pricing set on a quote basis rather than published rates. Distribution is sales-led via client advisors working from six physical offices; digital engagement is layered on through the H&B Mobile App, CSR-24 client portal, Indio e-signature workflow, Zywave MyWave Portal, and a Safety & Risk Management Dashboard, all powered by Applied Systems agency management technology. Marketing channels include a proprietary podcast ("Got You Covered"), Instagram, email/webinars, and content marketing.

The business is privately held and operates under the Acrisure national insurance brokerage network. Leadership transitioned to Paul Plunkett (President 2021, CEO 2023), a long-tenured executive first appointed principal via a 1994 management buyout by five employees. The Denis, Ricker & Brown subsidiary (Lyndonville and Montpelier, joined 2000) is retained as a sub-brand, and the firm's products and services demonstrate specialization in construction, hospitality, and workers compensation risk management rather than broad-line commoditized coverage.

Name

Hickok & Boardman Insurance Group

Legal name

Hickok & Boardman Insurance Group

Website

https://hbinsurance.com

Company type

Private

Founded year

1824

Operating status

Operating

Headcount range

101–250 employees

Short description

Hickok & Boardman Insurance Group is an independent insurance agency offering personal and commercial insurance, surety bonding, and risk management services across six offices in Vermont and Northern New York, operating under the Acrisure network.

Ownership category

akta.pro rank

Product category

Insurance Brokerage Services

NAICS

Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Captive Insurance Advisory & Management (FSAEADAF)

Keywords

• Personal insurance brokerage
• Commercial insurance agency
• Workers compensation management
• Surety bonding services
• Risk management consulting

Headquarters

HQ city

Burlington

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Commissions: The agency earns commissions from insurance carriers for placing and servicing insurance policies. As an independent agency, they represent multiple insurance companies offering clients a variety of options.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Hickok & Boardman Insurance Group operates as an independent insurance agency placing personal lines (auto, homeowners, boat/watercraft, motorcycle, snowmobile, personal umbrella) and commercial lines (construction, hospitality, manufacturing, healthcare/social services) through multiple carrier relationships. The firm complements insurance placement with in-house services including workers' compensation claims management with three licensed adjusters, surety and fidelity bonding, loss prevention consulting, OSHA-certified safety training, and 24/7 claims advocacy delivered across six branch offices in Vermont and Northern New York.

Product overview

Hickok & Boardman Insurance Group operates as an independent insurance agency offering a comprehensive portfolio of personal and business insurance products. The personal insurance portfolio includes automobile, homeowners, boat & watercraft, umbrella, snowmobile, and motorcycle coverage. Business insurance offerings encompass construction, hospitality, and surety & bonds, supported by specialized risk management services including workers compensation claims management and loss prevention/safety training. Additional value-added services include an Education Center, the 'Got You Covered' podcast, mobile applications, and OSHA certification training programs. The company provides these products through multiple office locations in Vermont and New York, integrating with client portal platforms including CSR-24, Indio, and Zywave for policy management.

Differentiator

Problem solved

Functional benefit

Brands

• Denis, Ricker & Brown: Insurance agency brand operating under Hickok & Boardman Insurance Group since 2000, specializing in Property and Casualty Insurance for business and personal needs in Lyndonville and Montpelier, Vermont.

Products and services

• Personal Automobile Insurance
• Homeowners Insurance
• Boat & Watercraft Insurance
• Personal Umbrella Insurance
• Snowmobile Insurance
• Motorcycle Insurance
• Construction Insurance
• Hospitality Insurance
• Surety & Bonds Bonding services including contract surety bonds, contractor bid bonds, performance and payment bonds, court bonds, development bonds, environmental remediation bonds, ERISA bonds, fidelity bonds, license and permits, and specialty bonds. Sold to contractors, municipalities, and businesses requiring compliance certifications.
• Workers Compensation Claims Management Workers' compensation coverage with three in-house licensed adjusters, return-to-work programs, experience modification audits, quarterly claim reviews, reserve reviews, and claim cost containment strategies. Sold to commercial clients across industries.
• Loss Prevention Services Custom safety and compliance training including virtual safety training webinars (ergonomics, defensive driving, first aid, safety program development, supervisor training) and on-site safety assessments. Sold to commercial clients seeking to reduce workplace injuries and insurance costs.
• Claims Services 24/7 dedicated claims specialists for personal and business insurance with advocacy, reporting, professional service, and filing assistance. Sold to policyholders across all lines of business.
• OSHA 10-Hour Training Voluntary OSHA training program covering workplace hazards, safety topics, PPE, and Focus Four topics (fall injuries, electrocution, struck-by, caught-in injuries) for entry-level workers. Sold to commercial clients needing OSHA compliance training.
• OSHA 30-Hour Construction Training In-depth compliance training for OSHA safety standards covering construction industry hazards, mandatory Focus Four topics, and elective topics including scaffolds, ladders, PPE, and health hazards. Sold to commercial clients needing supervisor-level OSHA certification.

Quantifiable outcome

• Three in-house licensed workers compensation adjusters providing immediate claims management
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature3 records

Partnerships

One partnership is on record.

• AcrisurecoreOthersAcrisure is the parent company of Hickok & Boardman Insurance Group. As stated on the company website: 'As we head into our third century, we adapt, innovate, and prosper under the Acrisure name.' H&B operates as part of the Acrisure network, leveraging national resources while maintaining local service delivery.

Scale indicators4 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Cross Insurance: New England-headquartered independent insurance agency with similar multi-state presence and full personal/commercial lines offering. Closely comparable in size, geography (New England focus), and independent agency business model serving mid-market commercial clients.
• World Insurance Associates: Fast-growing independent insurance brokerage with strong Northeast US presence, acquired by private equity and pursuing aggressive M&A. Comparable in product breadth (personal, commercial, surety), independent agency model, and Acrisure-adjacent growth strategy through acquisitions.
• IMA Financial Group: Employee-owned independent insurance brokerage with deep expertise in construction, hospitality, and other commercial verticals. Highly comparable in independent agency model, vertical specialization approach, and employee-ownership culture.
• The Plexus Groupe: Mid-market-focused insurance brokerage with construction and hospitality specialty practices. Comparable in vertical specialization, mid-market customer focus, and embedded risk management/claims services similar to H&B's workers' comp adjusters offering.

Broad incumbents

• Hub International: Large North American insurance brokerage with significant Northeast US presence and full personal/commercial lines offering. Operates a similar independent agency model but at materially greater scale, providing a template for what H&B could become under continued Acrisure investment.
• Arthur J. Gallagher & Co. Global insurance brokerage and risk management services firm with extensive retail brokerage operations across the US. Overlaps with H&B across commercial P&C, surety, and risk management, but operates at far greater scale with national/international reach.
• Marsh McLennan: Largest insurance brokerage in the world, parent of Marsh (commercial) and Mercer. Overlaps with H&B in commercial P&C placement and risk advisory, though it primarily serves enterprise accounts rather than the mid-market focus of H&B.

Others

• Acrisure: Parent company of Hickok & Boardman. One of the largest insurance brokerage platforms globally, formed through aggressive acquisition of regional independent agencies. Acrisure provides national resources, capital, and acquisition strategy to H&B but is not a direct competitor.
• Risk Placement Services (RPS): Wholesale insurance brokerage and managing general agent that often partners with retail agents like H&B to place specialty and surplus lines coverage. Acts as an upstream channel partner rather than a competitor.

Emerging players

• Brown & Riding Insurance Services: Specialty wholesale insurance broker with construction and hospitality expertise. Operates as a specialist partner for retail agents placing complex or hard-to-place commercial risks, comparable to H&B's construction and hospitality verticals.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/hbinsurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hickok & Boardman Insurance Group