Aspen Risk Management caters to insurance carriers, captives, and brokers with loss control and safety services


TRISTAR Insurance buys Aspen Risk Management. (Credit: Tumisu from Pixabay)

TRISTAR Insurance Group, a US third party claims administrator, has acquired Aspen Risk Management Group for an undisclosed price.

Established in 2005, Aspen Risk Management caters to insurance carriers, captives, and brokers with loss control and safety services. The company is engaged in providing direct consulting and training to non-profits, firms, and government agencies.

Apart from its risk control services, Aspen Risk Management serves commercial and government clients with remote ergonomics, online service platforms, and specialty services.

The risk management company serves California and neighbouring states, Northern Florida, and North Carolina.

Joining the third party claims administrator is said to provide the company access to a network of clients apart from opportunities across the US.

All the company’s employees will continue operations based from the existing locations under the name Aspen Risk Management Group, a TRISTAR Company.

Aspen Risk Management CEO comments on joining TRISTAR Insurance

Aspen Risk Management CEO Steve Thompson said: “For the past 15 years our team has worked hard to become exceptional at risk control and workplace safety. Joining TRISTAR gives us the chance to carry our primary purpose of saving lives, preventing injuries & illnesses, and protecting our clients from harm all across America!”

TRISTAR Insurance said that the transaction is a major step forward in establishing a strategic footprint in the loss control and workplace safety market.

TRISTAR Insurance president Tom Veale said: “Aspen’s reputation and extensive experience in both the insurance and self-insurance space are a natural addition to the TRISTAR family. They are differentiators in the industry and we look forward to introducing them to our clients and partner network.”

Established in 1987, TRISTAR Insurance is engaged in providing claims and risk management services to a range of clients. Included in its client list are self-insureds, insurance carriers, underwriters, risk pools, and public entities.

Headquartered in Long Beach, California, the third party claims administrator has 800 plus employees working across 32 offices in the US.