One80 buys boutique captive solutions group IRM

Boston-headquartered specialty broker One80 Intermediaries has acquired Innovative Risk Management (IRM), a boutique captive insurance solutions and specialty programs business. Programs Plus, which provides underwriting management and policy administration services for self-insured entities, captive insurance and specialty programs, was also included in the deal.

Founded in 1991 and headquartered in Dallas, Texas, IRM offers agents, brokers and self-insured entities captive solutions, program management, claims mitigation and administration, underwriting, loss control and specialty program development and management.

Through its underwriting affiliates, it provides specialty insurance programs designed for commercial trucking risks, apartments, condominiums, and dwelling risks for the residential real estate investor. It also provides captive solutions tailored to commercial construction contractors and various other classes of insurance risks, providing clients with control over their risk management programs and insurance.

“I am excited to offer captive and alternative risk solutions through the One80 platform with the acquisition of IRM,” said Matthew Power, president of One80 Intermediaries. “As we continue to bring together the best talent in the industry, I am confident that IRM’s highly specialised and innovative team will be a fantastic addition to the One80 culture.”

“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,” said Stuart Stagner, managing director at IRM.

“We look forward to continued success with our employees, clients, industry partners and the One80 team.”

A national insurance wholesaler and program manager, One80 has offices throughout the US and Canada. It offers placement services and binding authority for property and casualty, financial lines, personal lines, cannabis, life insurance, medical stop-loss, alternative risk, warranty, lender-based insurance, travel, accident and health risks.