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US-based specialty insurance coverage brokerage and danger administration firm Threat 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 Threat Methods’ first buy of an organization primarily serving the accounting career.
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 powerful presence within the north-east.
Moreover skilled legal responsibility insurance coverage, the corporate supplies cyber legal responsibility and employment practices legal responsibility (EPL), together with an unique EPL coverage tailor-made for accounting firms.
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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 solely endorsed by the American Institute of Licensed Public Accountants.
Moreover, since 1992, the Connecticut Society of CPAs has endorsed Tempo.
Threat Methods New York regional chief Robert Rosenzweig stated: “Specialised experience is important to making sure shopper dangers are successfully mitigated. Ken and his crew deliver the kind of deep, specialised focus that may add vital new trade information to our skilled legal responsibility apply.”
Gross added: “Specialised experience and a devoted workers have constructed our success. Turning into a part of Threat 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 Threat Methods’ buy of the US and Canadian operations of insurance coverage holding firm HWI BV.
In keeping with Threat Methods, this transfer bolsters its marine apply, particularly in industrial marine insurance coverage, and enhances its potential to offer refined options for world cargo transit and stock dangers.
It additionally augments the corporate’s fantastic artwork apply, providing specialised insurance coverage for collectibles equivalent to cash and stamps to a variety of shoppers, from industrial sellers to personal collectors.
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