Ascend CEO closes acquisition of the entire entertainment insurance firm

CEO Paul Bassman completely purchased the business from founder James Chippendale

Insurance News

By Lyle Adriano

Ascend Insurance Brokerage Paul Bassman announced that he has finally closed on the full acquisition of the entertainment insurance firm from founder James Chippendale.
Chippendale founded the Dallas-based Ascend in 2001.

"As I transition into a life post-Ascend, I am very proud of the work we have done to make the company one of the top entertainment insurance brokers in North America," said Chippendale. "Ascend will continue to thrive under the direction of the new owner Paul Bassman, and the amazingly talented, committed staff we have assembled."

Bassman was previously a label executive at Capitol Records, who later turned artist manager for bands such as Damageplan, Flickerstick and Drowning Pool, reported Billboard. He joined Ascend eight years ago.

"Coming from a management and A&R background, insurance sales sounded horrible," Bassman admitted, revealing his initial reservations against working in the insurance industry.

"Now, after eight years, I'm much more of a trusted advisor than a salesman to my clients, which I truly enjoy.  Nothing makes me happier than when I sign up a new client who expresses their happiness that they finally have an insurance broker who understands their business. I have the unique perspective from seeing the business from their point of view, having been a part of their business."

Currently, Ascend has 18 full-time employees, with several part-time workers making up the rest of its workforce.

Some of the firm’s more notable clients include promoter/producer Dave Shapiro, CID Entertainment, Bowery Presents, Riot Fest in Denver and Chicago, BottleRock in Napa, Calif., Pitchfork music fests, Pemberton music fest, the Metro in Chicago, Stubbs in Austin, and Bomb Factory in Dallas.

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