Risk Strategies Acquires Felsen Insurance Services
Risk Strategies, a prominent North American specialty insurance brokerage and risk management firm, has announced an important acquisition. By bringing Felsen Insurance Services, Inc. into its fold, the company is set to enhance its service offerings significantly. Felsen, known for its comprehensive commercial and personal property and casualty (P&C) insurance products, will bring a wealth of expertise and specialization to Risk Strategies' operations.
About Felsen Insurance Services
Founded in 1985 and located in Denville, New Jersey, Felsen has built a solid reputation in the insurance industry. With its founder, Paul Felsen, at the helm, the agency primarily focuses on delivering tailored insurance solutions for real estate, high net worth individuals, condominium associations, and religious institutions. This strategic addition is expected to broaden the scope of services offered by Risk Strategies.
Expanding Specialty Expertise
Rob Rosenzweig, the New York Regional Leader at Risk Strategies, expressed excitement about the acquisition, stating that adding Felsen Insurance Services significantly strengthens their presence in the New York metro region. This move not only broadens their product offering but also enhances their expertise in handling the specific needs of condominiums and high net worth clients. Additionally, the establishment of a more robust market position for Risk Strategies underscores the company's commitment to expanding its footprint in the sector.
National Reputation in Religious Institutions
The acquisition of Felsen also enables Risk Strategies to tap into the agency's national reputation for its specialization in providing insurance to religious institutions. Felsen has focused prominently on the needs of synagogues and temples, addressing unique operational challenges such as managing daycare services, youth group activities, and preserving important artifacts. This alignment of expertise is expected to serve the diverse needs of clients even better.
Paul Felsen's Vision
Paul Felsen, the Owner of Felsen Insurance Services, commented on the acquisition, highlighting that being part of Risk Strategies will allow for the preservation and amplification of their specialty focus. This partnership means that both teams can work together and offer clients an extensive range of capabilities and resources, ultimately enhancing the customer experience and assurance.
Strength in Risk Management
Felsen brings notable strength in risk management solutions, particularly for condominium associations. Their expertise in addressing the specific concerns of these entities ensures that clients receive tailored solutions that protect their interests effectively. Additionally, Felsen's high net worth practice benefits from working with past and current professional athletes and coaches, showcasing a commitment to understanding the unique risks faced by such clients.
About Risk Strategies
Risk Strategies operates as part of Accession Risk Management Group and stands as one of the largest privately held insurance brokers in the country. With a presence in numerous major cities across North America, the firm caters to both commercial and personal clients. Clients benefit from a wide range of services, including property and casualty insurance, risk management solutions, employee benefits, and wealth management services. This extensive portfolio is supported by a dedicated team of experts reachable across 200+ offices, enhancing their service delivery and client engagement.
Conclusion
The acquisition of Felsen Insurance Services marks a significant milestone for Risk Strategies, positioning the firm strategically for future growth and client engagement. As they continue to expand their specialties and service offerings, clients can expect improved solutions tailored to their distinct needs.
Frequently Asked Questions
What does Risk Strategies do?
Risk Strategies is a leading North American specialty insurance brokerage that provides risk management and consulting services.
When was Felsen Insurance Services established?
Felsen Insurance Services was founded in 1985 and has since built a reputation for its tailored insurance solutions.
How will this acquisition benefit clients?
Clients can expect enhanced services, more extensive resources, and specialized solutions tailored to their unique insurance needs.
What types of insurance does Felsen focus on?
Felsen specializes in commercial and personal P&C insurance products, focusing on real estate, high net worth individuals, and religious institutions.
What is Risk Strategies' market presence?
Risk Strategies operates across 200+ offices, making it one of the largest privately held brokers in North America.
