Risk Strategies acquires Memphis professional liability broker

Boston-based broker Risk Strategies Co. on Wednesday said it has acquired Crow Friedman Group, a professional liability brokerage headquartered in Memphis, Tennessee.

Terms of the acquisition were not disclosed.

According to a statement released by Risk Strategies, John Crow and Don Friedman, the founders of Crow Friedman and their respective teams, will remain with the firm and do business as Crow Friedman Group, a Risk Strategies Company.

This is the second major acquisition announced this month by Risk Strategies, which ranked 52nd on Business Insurance’s latest list of the 100 largest brokers of U.S. business. On Oct. 1, the broker announced that it had merged with privately held broker and risk adviser DeWitt Stern Group Inc., based in New York.

“Our combination with Crow Friedman comes at a time of tremendous growth for our organization,” said Risk Strategies CEO Michael Christian in the statement. “Working with the experts at Crow Friedman Group will allow unparalleled access to professional liability expertise, particularly in the area of architects and engineers. In addition, the Crow Friedman Group represents our first meaningful geographic expansion into the southern region of the United States.”