Risk Strategies has acquired Bedrick-Kaitz Agency, a New York-based insurance broker serving high-net-worth individuals
Image: Risk Strategies acquires New York-based broking firm. Photo: Courtesy of rawpixel/Pixabay
Insurance brokerage and risk management services provider Risk Strategies has acquired Bedrick-Kaitz Agency (BKA), a New York-based insurance firm serving high-net-worth individuals and businesses, for an undisclosed amount.
BKA CEO Michael Rosenberg had acquired the firm from one of its original founders, Donald Kaitz, shortly after joining the firm in the 1980s. Before acquiring the firm, Rosenberg was a personal lines specialist with a boutique brokerage in New York City.
In addition to its main focus on providing customised policy programmes covering an entire suite of personal insurance products, including speciality focus on exotic cars, BKA helps clients protect their businesses with commercial insurance products that range from general and professional liability to workers’ compensation.
Rosenberg said: “When looking for a way to grow the business, Risk Strategies emerged as the obvious partner choice.
“Their specialist approach meant our clients would continue to receive the premium service they’ve come to expect but with deeper and broader resources.”
Acquisition of Bedrick-Kaitz Agency will enhance Risk Strategies’ private client practice
The insurance broking company also has a national private client practice, focused on offering expert service, broad capabilities and deep resources to high-net-worth individuals and businesses.
In 2016, Risk Strategies acquired Atlass Insurance Group, adding yacht and watercraft risk and insurance expertise to its practice capabilities.
Risk Strategies national private client practice leader Bob Courtemanche said: “We’re always on the lookout for potential partners who can bring the right mix of experience and expertise to our practice. Michael and the team at BKA squarely hit that criteria and will be a great fit.”
Last month, Risk Strategies acquired Pro Safety Services, a company that provides safety and loss control services to construction companies, builders and a range of other industries, for an undisclosed amount.
Founded in 1999, Pro Safety Services offers a full scope of specialised safety programmes and services to help clients protect physical assets and earnings by identifying and managing risks.
The company offers services such as full-time site safety management, loss control, training, periodic audits, and safety management programme development.