Risk Strategies, a Boston, Mass.-headquartered, privately held national insurance brokerage and risk management firm, has acquired New York City-based Prosurance Redeker Group LTD., a specialty brokerage serving architects and engineers. Terms of the deal were not disclosed.
Formed in 1991 from the merger of Redeker Brokerage and Prosurance Brokerage, Prosurance Redeker Group LTD. is led by its two principal owners, Greg Kumm and Warren Redeker. The company provides risk management consultation and placement of professional liability and other key business insurance coverages. It was a founding member of a/e ProNet, the National Network of Architects’ and Engineers’ Professional Liability Insurance Brokers.
Risk Strategies offers risk management advice as well as insurance and reinsurance placement for property and casualty, healthcare and employee benefits risks. It serves commercial companies, non-profits, public entities and individuals, and has offices in more than 40 locations nationwide.
It formally launched its national professional practices group focused on architects and engineers in 2013. The group represents more than 4,000 design professionals and consulting firms.
This acquisition adds to Risk Strategies’ architects and engineers professional liability practice while providing acquired customers access to more than 200 commercial lines markets, additional employee benefits capabilities, risk management resources and private client personal line expertise.
In addition to Prosurance Redeker, Risk Strategies has acquired several firms with specialty focus in professional liability for architects and engineers over the past four years. This includes Dallas, Texas-based McLaughlin-Brunson in 2016, Chicago, Ill.-based MG Welbel & Associates in 2015 and Nashville, Tenn.-based Crow Friedman Group and New-Jersey-based Singer Nelson Charlmers in 2014.
Source: Risk Strategies
Topics Mergers & Acquisitions New York Agencies Risk Management Professional Liability
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