One80 Intermediaries acquires Texas-based Innovative Risk Management

Specialty insurance broker One80 Intermediaries has acquired Innovative Risk Management (IRM) based in Dallas, Texas for an undisclosed price.

Innovative Risk Management operates as a program manager which offers captive and alternative risk solutions to agents, brokers and self-insured entities.

Alongside Innovative Risk Management, One80 Intermediaries has acquired the former’s affiliate — Programs Plus, which provides policy administration and underwriting management services for self-insured entities, specialty programs, and captive insurance.

Established in 1991, Innovative Risk Management is said to help clients in enhancing their risk profile, claims management, controlling losses. The company also enables its clients to develop long-term strategies for alternative funding that address the unique risks faced by each business.

Stuart Stagner — Managing Director at Innovative Risk Management said: “For 30 years, Innovative Risk Management 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. We look forward to continued success with our employees, clients, industry partners and the One80 team.”

Innovative Risk Management’s services include captive solutions, claims mitigation and administrations, underwriting, loss control, program management, and specialty program development and management.

Through its underwriting affiliates, the company offers specialty insurance programs designed for apartments, condominiums, commercial trucking risks, as well as dwelling risks for investor involved in the residential real estate.

Innovative Risk Management also provides customized captive solutions to commercial construction contractors and other classes of insurance risks.

Matthew F. Power — President of One80 Intermediaries said: “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 specialized and innovative team will be a fantastic addition to the One80 culture.”