5 February 2020USA analysis

Risk Strategies strengthens its aviation offering with acquisition of Transport Risk

Risk Strategies has acquired Transport Risk Management, a specialist in aviation-related insurance and risk management based in Colorado.

Transport Risk has more than 1,000 clients, including a number of top film and entertainment companies, and has a long-standing relationship with Risk Strategies’ entertainment and media specialty division, Dewitt Stern.

It was founded in 2003 by its current president, Terry Miller, an aviation insurance underwriter and broker for over 20 years.

Transport Risk works with clients to help them better understand and mitigate risk around aviation. It offers products for manned commercial and industrial aid aircraft, non-owned aviation, aircraft and personal liability, and unmanned aerial system and drone coverages.

The acquisition of Transport Risk also brings wholesale capabilities as it has managing general agent authority with a major international carrier for its specialty drone program. Risk Strategies believes this business is a great fit with its own specialty wholesale division, One80 Intermediaries.

John Mina, Risk Strategies’ CEO, described Transport Risk as “a dead-on fit for our business,” noting that aviation is “an area in which we’re seeing an increased need.”

Miller said Transport Risk wanted to broaden its capabilities without compromising the specialist knowledge and expertise its clients demand. “Becoming part of Risk Strategies was the perfect way to achieve this goal and ensure we could continue to grow our business in a way that worked best for our clients,” he said.

Terms of the deal were not made public.