TRISTAR Insurance buys Risico Claim Management and Total Managed Care

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TRISTAR Insurance Group, an American third-party claims administrator (TPA), has signed a deal to acquire Risico Claim Management and Risico Total Managed Care’s self-insured book of business.

The financial terms of the deal were not revealed.

Founded in 1999, Risico Claim Management primarily caters to public agencies and food processors. Its Fresno-based team is said to provide years of experience serving employers across California.

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Steven C. Wigh — Chief Operating Officer of Risico Claims Management said: “We are very pleased to join the TRISTAR family.

“This move offers our employees and self-insured customers access to the resources that a well-established national TPA can provide. We look forward to adding to TRISTAR’s already significant presence in Fresno and the greater San Joaquin Valley.”

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TRISTAR Insurance Group said that the acquisition is a strategic move aimed at further bolstering its presence in California’s Central Valley.

Tom Veale — President of TRISTAR Insurance Group said: “We are excited to have the Risico and Total Managed Care teams join the TRISTAR organization. They have built a strong reputation in the public agency and food processing industries and add significantly to our bench strength.”

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The deal is anticipated to close effective 1 February 2022.

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