BOSTON — Risk Strategies, a leading national specialty insurance brokerage and risk management and consulting firm, today announced its acquisition of Prince Associates, Inc., a multi-line retail insurance agency based in Hicksville, NY. Terms of the deal were not disclosed.
Led by Leith Baren and Craig Sherman, Prince Associates is primarily focused on helping clients in need of commercials lines coverages. The firm serves clients across 41 states in a broad array of industries including waste disposal, manufacturing, animal shelters, hospitality and real estate.
“The need for expert knowledge in risk management and insurance for business is only increasing,” said Robert Rosenzweig, New York Regional Leader, Risk Strategies. “Leith, Craig and the team at Prince Associates are a great addition to our commercial lines expertise and I’m excited to welcome them to the Risk Strategies family.”
Prince Associates have expanded their client services beyond tailored insurance coverages, offering a range of services and capabilities to help clients more holistically understand their risk and liability exposures. The team helps identify practical ways to manage risks and their offerings include risk management reviews, loss control analysis, claims handling overviews, flexible financing and alternative risk transfer options.
“We wanted to expand our capabilities and scale our business without sacrificing the expertise-driven approach to risk management that drove our success,” said Leith Baren, CEO, Prince Associates Inc. “We saw becoming part of a true specialty broker like Risk Strategies as the perfect way to do just that.”
In addition to its primary focus on specialty risk management advice and commercial lines coverages for businesses, Prince Associates also offers personal lines coverages for families and individuals, including homeowners, property, renters, auto, flood and identity theft, among others.
SOURCE: Risk Strategies
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