US-based specialty insurance coverage brokerage and danger administration firm Danger Methods has taken over Tempo Skilled Companies for an undisclosed sum.
Specialising in skilled legal responsibility choices, Tempo primarily caters to licensed public accountants (CPAs) and regulation practices.
The deal marks Danger Methods’ first buy of an organization primarily serving the accounting occupation.
Backyard Metropolis, New York-based Tempo was established in 1992 by president and proprietor Kenneth Gross.
It has constructed a nationwide shopper base, with a robust presence within the north-east.
Apart from skilled legal responsibility insurance coverage, the corporate gives cyber legal responsibility and employment practices legal responsibility (EPL), together with an unique EPL coverage tailor-made for accounting corporations.
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Since 1994, Tempo has served because the territorial administrator for the CNA Accountants Skilled Legal responsibility Insurance coverage programme in New York and Connecticut, a programme completely endorsed by the American Institute of Licensed Public Accountants.
Moreover, since 1992, the Connecticut Society of CPAs has endorsed Tempo.
Danger Methods New York regional chief Robert Rosenzweig stated: “Specialised experience is important to making sure shopper dangers are successfully mitigated. Ken and his workforce convey the kind of deep, specialised focus that can add vital new trade information to our skilled legal responsibility follow.”
Gross added: “Specialised experience and a devoted workers have constructed our success. Changing into a part of Danger Methods is a novel alternative to scale our specialty focus whereas bringing our shoppers new sources and extra coverages.”
This acquisition comes on the heels of Danger Methods’ buy of the US and Canadian operations of insurance coverage holding firm HWI BV.
In accordance with Danger Methods, this transfer bolsters its marine follow, particularly in industrial marine insurance coverage, and enhances its skill to offer refined options for world cargo transit and stock dangers.
It additionally augments the corporate’s effective artwork follow, providing specialised insurance coverage for collectibles resembling cash and stamps to a spread of shoppers, from industrial sellers to personal collectors.
