Established in 1991, Innovative Risk Management provides captive solutions and customized insurance programs to a variety of industry classes including contractors, commercial trucking, habitational, and dwelling risks.
BOSTON–(BUSINESS WIRE)–One80 Intermediaries (One80), a specialty insurance broker headquartered in Boston, today announced that it has acquired Innovative Risk Management, Inc. (IRM), a program manager which provides agents, brokers and self-insured entities with captive and alternative risk solutions. Also included in the transaction is Programs Plus, providing underwriting management and policy administration services for self-insured entities, captive insurance, and specialty programs. Marsh, Berry & Company was the exclusive financial adviser for IRM. Terms of the deal were not disclosed.
Founded in 1991 and headquartered in Dallas, Texas, IRM helps clients improve their risk profile, control losses, and manage claims, in addition to developing long-term strategies for alternative funding (captives) that address the unique risks of each business. Services include captive solutions, program management, claims mitigation and administrations, underwriting, loss control and specialty program development and management.
Through its underwriting affiliates, IRM provides specialty insurance programs designed for commercial trucking risks, apartments, condominiums, and dwelling risks for the residential real estate investor. Separately IRM offers captive solutions tailored to commercial construction contractors and various other classes of insurance risks, providing clients with control over their own risk management programs and insurance.
“I am excited to offer captive and alternative risk solutions through the One80 platform with the acquisition of IRM. As we continue to bring together the best talent in the industry, I am confident that IRM’s highly specialized and innovative team will be a fantastic addition to the One80 culture,” said Matthew F. Power, President of One80 Intermediaries.
“For 30 years, Innovative Risk Management has consistently provided a unique approach to alternative risk solutions. As IRM moves into our next 30 years, we will partner with One80 Intermediaries to provide our clients with an expanded platform for growth and opportunities. We look forward to continued success with our employees, clients, industry partners and the One80 team,” said Stuart Stagner, Managing Director at IRM, 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