United Risk Set to Acquire DUAL Crisis Management Program and Team

United Risk, a managing general agency, has announced its agreement to acquire DUAL North America’s crisis management program, along with its underwriting and claims teams. This strategic move aims to enhance United Risk’s offerings in the insurance market.

The newly acquired unit will be rebranded as First Product Protection, operating as an independent division under the umbrella of New York-based United Risk. This addition will significantly expand United Risk’s portfolio by incorporating product recall and contaminated products into its existing book of business.

While the specific terms of the deal remain undisclosed, the acquisition is expected to bolster United Risk’s capabilities in managing risks associated with product safety and recalls.

Leadership roles at First Product Protection will be assumed by Hayden Smith, CEO of United Risk, along with Mark LeBlanc and Robley Moor, the founders of the program. Their extensive experience in crisis management and product safety will be instrumental in steering the new division towards success.

“United Risk’s value lies in quality and diversification,” stated Jamie Sahara, chairman of United Risk. “First Product Protection immediately adds value to the enterprise by complementing United Risk’s strong bench of program managers, varied lines of business, diverse roster of fronts, reinsurers, and brokers, while further strengthening business ties with Lloyd’s.”

The targeted classes of business for First Product Protection include a wide range of sectors such as food and beverage, transportation (aviation, aerospace, rail, auto), consumer and industrial electronics and appliances, communications equipment, sporting and recreational equipment, clothing apparel, footwear, toys, and furniture. This diverse focus will allow the new division to cater to various industries and their unique risk management needs.

DUAL North America CEO John Johnson commented that the sale enables the program administrator to concentrate on core growth areas, including commercial property, casualty, and financial lines, as well as emerging specialty markets. This strategic shift is expected to enhance DUAL’s overall market presence.

Mark LeBlanc brings 25 years of specialized experience in product contamination, product recall, security risk management, and crisis management. He has held significant roles, including managing principal at DUAL Group and Global Head of Crisis Management since June 2021. His previous experience includes leadership positions at Swiss Re and Crum & Forster.

Robley Moor, with over 25 years of specialty underwriting and insurance leadership experience, most recently served as managing director of crisis management at DUAL UK in London. Prior to that, he was managing principal of crisis management at DUAL North America, further solidifying his expertise in this critical area.

Topics
Mergers & Acquisitions

United Risk, a managing general agency, has announced its agreement to acquire DUAL North America’s crisis management program, along with its underwriting and claims teams. This strategic move aims to enhance United Risk’s offerings in the insurance market.

The newly acquired unit will be rebranded as First Product Protection, operating as an independent division under the umbrella of New York-based United Risk. This addition will significantly expand United Risk’s portfolio by incorporating product recall and contaminated products into its existing book of business.

While the specific terms of the deal remain undisclosed, the acquisition is expected to bolster United Risk’s capabilities in managing risks associated with product safety and recalls.

Leadership roles at First Product Protection will be assumed by Hayden Smith, CEO of United Risk, along with Mark LeBlanc and Robley Moor, the founders of the program. Their extensive experience in crisis management and product safety will be instrumental in steering the new division towards success.

“United Risk’s value lies in quality and diversification,” stated Jamie Sahara, chairman of United Risk. “First Product Protection immediately adds value to the enterprise by complementing United Risk’s strong bench of program managers, varied lines of business, diverse roster of fronts, reinsurers, and brokers, while further strengthening business ties with Lloyd’s.”

The targeted classes of business for First Product Protection include a wide range of sectors such as food and beverage, transportation (aviation, aerospace, rail, auto), consumer and industrial electronics and appliances, communications equipment, sporting and recreational equipment, clothing apparel, footwear, toys, and furniture. This diverse focus will allow the new division to cater to various industries and their unique risk management needs.

DUAL North America CEO John Johnson commented that the sale enables the program administrator to concentrate on core growth areas, including commercial property, casualty, and financial lines, as well as emerging specialty markets. This strategic shift is expected to enhance DUAL’s overall market presence.

Mark LeBlanc brings 25 years of specialized experience in product contamination, product recall, security risk management, and crisis management. He has held significant roles, including managing principal at DUAL Group and Global Head of Crisis Management since June 2021. His previous experience includes leadership positions at Swiss Re and Crum & Forster.

Robley Moor, with over 25 years of specialty underwriting and insurance leadership experience, most recently served as managing director of crisis management at DUAL UK in London. Prior to that, he was managing principal of crisis management at DUAL North America, further solidifying his expertise in this critical area.

Topics
Mergers & Acquisitions