30 March 2023Analysis

Risk Strategies acquires ICNJ

Risk Strategies has acquired The Insurance Center of North Jersey (ICNJ). The terms of the deal were not disclosed.

A provider of business, professional and personal insurance coverages for clients across New Jersey, New York, Connecticut, and Pennsylvania, ICNJ brings expertise in helping professionals in law, healthcare and dentistry tailor effective liability risk coverage.

“When seeking firms with which to partner, we prioritise deep expertise, a client-first culture and potential for organic growth,” said Rob Rosenzweig, New York Metro Region commercial lines leader. “The team at The Insurance Center of North Jersey hits all those marks and it’s exciting to welcome them to the family.”

Headquartered in Hillsdale, NJ and originally founded in 1927 as the Graffin Agency, the firm became known as ICNJ in 1984 when current President, Steve Radespiel, joined his father at the company.

“Given our longevity as a company and my personal connection to it, we wanted to be sure we had the right fit when choosing a partner to grow and extend our business,” said Radespiel. “In Risk Strategies we saw not only a national platform that could bring a wide range of new capabilities to our clients, but also an organisation that shared our commitment to personalised service.”

Radespiel, a past president of the Professional Insurance Agents (PIA) of New Jersey, currently sits on PIA Northeast’s Management Services Board. In addition to expertise in its professional liability lines, ICNJ is able to help clients in its personal lines business across a range of standard and specialty property and casualty risk and liability products.