What's @ Risk / Press Releases
Risk Strategies Company Acquires UPA Insurance Brokers
Growing National Insurance Brokerage, Risk Management Consulting Services Firm Deepens Real Estate/Condo Industry Expertise; Continues to Expand West Coast Footprint
BOSTON, MA--(Marketwire - Jan 11, 2012) - Risk Strategies Company (RSC), a national insurance brokerage and risk management firm headquartered in Boston, today announced that it has acquired Millbrae, Calif.-based UPA Insurance Brokers, an independent insurance agency specializing in commercial real estate, home owners' associations, financial services, non-profits, and hospitality industries in Northern California.
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Risk Strategies Company Acquires Global Insurance Network Inc.
Transaction Strengthens Insurance Brokerage, Risk Management Consulting Services Firm's Real Estate Industry Expertise; Bolsters Firm's Boston Presence
BOSTON, MA--(Marketwire - Dec 8, 2011) - Risk Strategies Company (RSC), a national insurance brokerage and risk management firm headquartered in Boston, today announced that it has acquired Needham, Mass.-based Global Insurance Network, Inc., an independent insurance agency providing a full range of insurance services for clients in the Metro Boston area.
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Risk Strategies Company Offers Insurance Option for Mid-Market Credit Unions
Credit Union Health Benefits of America (CUHB) Plan Deflects Rising Healthcare Costs
SACRAMENTO, CA and BOSTON, MA--(Marketwire - Oct 31, 2011) - Risk Strategies Company (RSC) (www.risk-strategies.com), one of the top insurance brokers in the United States, is now offering the Credit Union Health Benefits of America (CUHB) Plan to credit unions nationwide seeking an alternative to traditional medical insurance.
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Risk Strategies Company Launches Comprehensive Nationwide Insurance Program for Food Trucks
Forges Exclusive Relationship With Chartis to Address Burgeoning Mobile Food Industry
BOSTON, MA--(Marketwire - Oct 26, 2011) - Risk Strategies Company, one of the leading insurance brokers in the United States and its wholly-owned affiliate, Catering Truck Insurance (www.cateringtruckinsurance.com), today announced the launch of an insurance program dedicated to the rapidly expanding gourmet food truck industry. The program, which will be exclusively underwritten through the Chartis insurers, is available nationally.
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The Insurance Marketplace in 2011 - More of the
Same or Major Change?
The insurance marketplace has been characterized throughout 2010 as competitive. Buyers with good loss histories have experienced modest reductions on all lines of insurance throughout the 2010 renewal cycle. Carriers underwriting property and casualty insurance remain reasonably well capitalized with competitive conditions fueled by the recession. Average rate levels for most lines of coverage have been trending flat to lower throughout 2010.
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Insurance marketplace in 2011
- Mid-year report indicators are
pointing to a firming market?
Carriers are reporting a reduction in capacity and re-insurers are negotiating increased rates on most renewals. The firming of the market is being driven by the large number and cost of catastrophic events in 2010 and 2011. Some of the notable catastrophes in include New Zealand and Chilean earthquakes, Australian floods, the Deepwater Horizon oil rig disaster, US Tornados and significant flooding throughout the Midwest and Southeast.
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The Insurance marketplace in 2011:
More of the same or major change?
The insurance marketplace has been characterized throughout 2010 as competitive. Buyers with good loss histories have experienced modest reductions on all Iines of insurance throughout the 2010 renewal cycle. Carriers underwriting property and casualty insurance
remain reasonably well capitalized with competitive conditions fueled by the recession.
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Mobile Food Vendor Market Explodes as Insurance Market Evolves
In just about every metropolitan area nationwide hungry customers can appease their appetites by visiting the neighborhood taco truck. The traditional taco truck
sells more than just tacos these days - a lot more. Today's mobile food vendors sell everything from gourmet cupcakes to lobster and the variety of foods available seems endless.There are more mobile food trucks than ever before. The number on the road, and in cities nationwide, has exploded in recent years.
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CateringTruckInsurance.com is a specialty division of Risk Strategies Company and was created in response to a growing demand for food truck insurance in Southern California as well as in Boston. You can access CateringTruckInsurance.com through the Risk Strategies website on both the Industries and Products pages under A View to Rely Upon. We hope you take a few moments to view this new enhancement.
Risk Strategies Company Launches Mobile Site
Risk Strategies Company launches mobile site. To access simply log on to www.risk-strategies.com using your smart phone. For those of you who don't have access to a smart phone and would like to view the application from your computer, simply click on the following link: www.mobile.risk-strategies.com
Risk Strategies Launches Construction Practice
Risk Strategies Company has formed a National Construction Practice to represent the diverse broking and risk management needs of companies ranging from those in the ENR 400 to specialty artisans. RSC will maintain their strong focus on Wrap-Ups, Builders Risk, Renewable Energy, Environmental Contractors and Higher Education construction. Additional specialties have been formalized within the practice to address Claims Advocacy, Surety, Professional Liability and Alternative Risk Finance. The Practice is supported by construction industry safety professionals who provide practical solutions to actual site safety issues.. The Practice will be led by Mike Vitulli in RSC's Boston office, supported by construction experts in New York, Providence, Connecticut, Chicago and California. Said Mike, "We are practical and industry focused, especially during these trying times for contractors. Our approach is to use analytics and technology to their fullest, while working with our clients to drive down their cost of risk on both the insurance and safety sides". Contact Mike Vitulli at 617.330.5726 or mvitulli@risk-strategies.com
Lessons Learned
Dealmakers reveal the nasty surprises they've come across as part of their due diligence
Getting the financial piece "right" is the ultimate goal of every M&A transaction. Understanding the variables that affect the intrinsic value of an acquisition can save millions of dollars. A recent purchase of a company whose balance sheet carried an accrual to cover the unknown future costs of a regulated insurance product, showed how proper perspective and guidance are crucial in increasing value. The curious deal owner, working hard to create opportunity, utilized an in-depth thought process on risk, creating value efficiency for his investors. Since insurance is an expense item that falls directly to the bottom line, the insurance savings produced from his due diligence methods, were leveraged by the deal multiple, so to speak, and created a financial win.
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Risk Strategies Company
Completes Merger of Cohn-Reid-O'Neill Insurance Services
Expands Insurance Brokerage, Employee Benefits Services in Technology, Agriculture, Real Estate, Private Client Sectors
BOSTON, MA and BURLINGAME, CA, December 1, 2010 - Risk Strategies Company (RSC), a national insurance brokerage and risk management firm based in Boston, today announced that it has successfully completed the merger of Cohn-Reid-O’Neill Insurance Services, Inc. (CRO) in Burlingame, CA with its West Coast operations. Focused on providing insurance brokerage and employee benefits services to the technology, agriculture and real estate sectors, CRO has built its private client personal lines insurance group, which serves high net worth individuals and families, into one of the largest in California.
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