Specialty insurance brokerage One80 Intermediaries has acquired Innovative Risk Management (IRM), a programme manager providing captive and alternative risk solutions to agents, brokers and self-insured entities.
The transaction includes Programs Plus, which administer underwriting management and policy administration services for self-insured entities, captives and specialty programmes.
Under the acquisition, IRM will become a division of One80. The insurance wholesaler and programme manager offers programmes across a range of coverages, including property and casualty, cannabis, medical stop-loss, alternative risk and health risks.
IRM offers its captive solutions and customised insurance programmes to improve risk profile, control losses, and manage claims.
Solutions include captive solutions, programme management, claims mitigation and administrations, underwriting, loss control and specialty programme development and management.
Matthew Power, president of One80, comments: “I am excited to offer captive and alternative risk solutions through the One80 platform with the acquisition of IRM. As we continue to bring together the best talent in the industry, I am confident that IRM’s highly specialised and innovative team will be a fantastic addition to the One80 culture.”
Stuart Stagner, managing director at IRM, adds: “For 30 years, IRM has consistently provided a unique approach to alternative risk solutions. As IRM moves into our next 30 years, we will partner with One80 Intermediaries to provide our clients with an expanded platform for growth and opportunities.”
