Founded in 2001, Professional Risk Solutions is a specialty wholesale brokerage firm focused on management, professional and cyber liability.
BOSTON–(BUSINESS WIRE)–One80 Intermediaries (One80), a specialty insurance broker headquartered in Boston, today announced that it has acquired Professional Risk Solutions (PRS), a New Jersey based specialty wholesale brokerage firm which focuses on professional and management liability lines coverage. Terms of the deal were not disclosed.
For over 20 years, PRS has partnered with national brokerages, agency alliance groups, regional agencies, and small independently owned firms. The firm specializes in management liability for non-profit, for-profit, public entities and publicly traded companies; professional liability including lawyer’s professional and errors and omissions coverage for technology, architects and engineers, contractors, real estate, and allied healthcare risks; and cyber liability for all classes of business.
Additionally, PRS designs customized white label programs which provide enhanced terms, conditions, and pricing to their retail partners. The team also provides specialized insurance solutions for life sciences, financial institutions, and healthcare risks.
“PRS will further strengthen One80’s capabilities, carrier relationships and levels of expertise in the professional lines space. In turn, we look forward to providing PRS brokers with opportunities throughout the broader One80 platform,” said Matthew F. Power, President of One80 Intermediaries.
“At PRS we pride ourselves in listening to the needs of our customers. With that, we have been very impressed with the way in which One80 develops deep relationships with their clients and brokers, offering a consultative approach to risk. These shared values are important to us and we look forward to our partnership,” said Rick Grimes, Managing Director at PRS, a division of One80 Intermediaries.
About One80 Intermediaries
One80 Intermediaries is a privately held, national firm with offices throughout the US and Canada. As a leading insurance wholesaler and program manager, the company offers placement services and binding authority for property & casualty, financial lines, personal lines, cannabis, life insurance, medical stop loss, alternative risk, warranty, lender-based insurance, travel/accident and health risks. One80 serves commercial companies, non-profits, public entities, and individuals, and has access to all major insurance markets in the US, Canada and UK. Coverage spans all industry classes. One80 has offices in more than 35 locations in the US and Canada. For more information visit www.one80intermediaries.com
Lenika P. Milne