Condominium Specialty Broker Adds to Florida Real Estate Capabilities
Risk Strategies, a leading national specialty insurance brokerage and risk management firm, announced its acquisition of Statewide Condominium Insurance, a retail broker focused on the condominium and apartment complex risk sectors. Terms of the deal were not announced.
Based in Vero Beach, Florida, Statewide is a leading specialist focused on serving the risk management and insurance needs of condominium operators and home-owners associations (HOAs) throughout the state. Founded in 1996, the company provides property, wind, flood, general liability, professional liability, and umbrella coverages to clients.
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“Complex risks and difficult markets require specialty expertise,” said Scott Popilek, Risk Strategies Atlantic Region Leader. “It’s why Risk Strategies has flourished and why Statewide is such a great addition to our capabilities in Florida. We’re excited to add this team’s expertise.”
With comprehensive insurance requirements for community associations and the second-largest number of community associations in the country, the acquisition of Statewide represents a strong growth opportunity for Risk Strategies as it continues to build out capabilities for clients in the region. Statewide works closely with associations in providing coverage reviews, insurance options, proposals, recommendations, and premium financing.
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“As a highly specialized firm, we wanted to find the right partner to grow our business and expand the ways in which we could help our clients manage their risks,” said Jerry Wahl, CEO of Statewide Condominium Insurance. “Risk Strategies specialty focus meant our people could continue doing what they do best, while gaining access to deep expertise in complementary areas of risk management.”
The deal also builds on recent acquisitions Risk Strategies has made in the State of firms specializing in personal lines and private client services, with Statewide’s client base offering a natural opportunity to increase overall scope of engagement with complementary products and services.
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