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All Risks Ltd. said it has acquired St. Petersburg, Florida-based Specialty Risk Underwriters.
Specialty Risk Underwriters is a national program administrator that has developed accident insurance plans and national comprehensive packages for sports organizations, school districts, colleges/universities, camps and special events.
Terms of the transaction were not disclosed.
Specialty Risk Underwriters founders, Kent and JoAnna Lynch have joined the Alive Risk division of the national specialty programs unit of All Risks. They will serve as directors of the accident medical programs and operate from their St. Petersburg location, All Risks said in a Tuesday statement.
“Kent and JoAnna bring new expertise and very intuitive online applications to our existing retail agency partners. We are fortunate to offer their unique products and knowledge, which is different from anything that All Risks has previously done,” Chris McGovern, senior vice president of All Risks national specialty programs said in the statement.
Health insurer Cigna Corp. has agreed to settle multiple class action lawsuits that alleged Cigna and its pending acquirer, Anthem Inc., shortchanged investors and agreed to bad deal.