Risk Strategies, a privately held insurance brokerage and risk management firm, has announced the acquisition of Transport Risk Management, a specialist in aviation-related insurance and risk management. Terms of the transaction were not disclosed.
Colorado-based Transport Risk helps more than 1,000 clients mitigate potential loss pertaining to aviation, aerospace and aircraft operations and activities. The company was founded in 2003 by current president Terry Miller, who has been an underwriter and broker in the aviation industry for more than 20 years.
“Risk Strategies success is built on specialty expertise and the value it delivers to clients facing complex risks,” said John Mina, CEO of Risk Strategies. “Terry and the firm he built is a dead-on fit for our business, and their focus is an area in which we’re seeing an increased need.”
“We were looking for a way to broaden our capabilities without compromising the specialist knowledge and expertise that our growing client base demands,” Miller said. “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.”
Transport Risk’s offerings span several industries, including manned commercial and industrial aid aircraft, non-owned aviation, aircraft and personal liability, and unmanned aerial system and drone coverages.
The acquisition also brings wholesale capabilities, as Transport Risk has managing general agent authority with a major international carrier for its specialty drone program. The capability aligns with Risk Strategies’ recently launched wholesale division, One80 Intermediaries.