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US-based insurance coverage brokerage and threat administration supplier Danger Methods has bought Prince Associates for an undisclosed sum.
The acquired firm is a multi-line retail insurance coverage company.
Primarily based in Hicksville, New York, Prince Associates specialises in aiding clients in want of business insurance coverage protection.
The insurer offers companies to shoppers in 41 US states throughout a number of sectors comparable to manufacturing, waste administration, hospitality, animal shelters and actual property.
Led by Leith Baren and Craig Sherman, Prince Associates’s staff assists in figuring out workable approaches to threat administration.
A few of the companies it offers are threat administration evaluations, loss management evaluation, overviews of claims dealing with, versatile financing and alternate decisions for threat switch.
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Prince Associates additionally offers private traces protection for households and other people, together with householders, property, renters, automobile, flood and identification theft.
Danger Methods New York regional chief Robert Rosenzweig stated: “The necessity for skilled information in threat administration and insurance coverage for enterprise is barely growing. Leith, Craig and the staff at Prince Associates are a fantastic addition to our industrial traces experience and I’m excited to welcome them to the Danger Methods household.”
Prince Associates CEO Leith Baren stated: “We needed to broaden our capabilities and scale our enterprise with out sacrificing the expertise-driven method to threat administration that drove our success. We noticed turning into a part of a real speciality dealer like Danger Methods as the proper technique to just do that.”
Final month, Danger Methods and One80 Intermediaries stated that they are going to function beneath a brand new model, referred to as Accession Danger Administration Group.
In August 2023, Danger Methods acquired Bisnett Insurance coverage, a full-service retail company based mostly in Oregon.
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