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 helping clients in want of economic insurance coverage protection.
The insurer supplies providers to purchasers in 41 US states throughout a number of sectors similar 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 providers it supplies 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 supplies private strains protection for households and other people, together with householders, property, renters, automobile, flood and id theft.
Danger Methods New York regional chief Robert Rosenzweig mentioned: “The necessity for skilled information in threat administration and insurance coverage for enterprise is just growing. Leith, Craig and the staff at Prince Associates are an excellent addition to our business strains experience and I’m excited to welcome them to the Danger Methods household.”
Prince Associates CEO Leith Baren mentioned: “We wished to broaden our capabilities and scale our enterprise with out sacrificing the expertise-driven strategy to threat administration that drove our success. We noticed changing into a part of a real speciality dealer like Danger Methods as the right option to do exactly that.”
Final month, Danger Methods and One80 Intermediaries mentioned that they are going to function beneath a brand new model, known as Accession Danger Administration Group.
In August 2023, Danger Methods acquired Bisnett Insurance coverage, a full-service retail company based mostly in Oregon.