Acordia Inc. said it has created a Gaming Practice Group toprovide customers in the gambling industry with risk managementconsultation and insurance services.

The unit is designed to protect businesses operating traditionalland-based casinos, riverboats, Indian casinos and racinos.

The new group will work in tandem with its parent firm, WellsFargo & Company, which is one of the few financial institutionsactively promoting and developing products and services to thegaming industry.

The new group will provide customers with services and solutionsfor dealing with management liability, employee benefits,third-party administrative services, aviation, promotion, talentand special events, environmental and large property risks.

In addition, the Gaming Practice Group's customer services willinclude policy analysis and evaluations, legal reviews and claimsadvocacy, which is designed to help customers identify their riskexposures and maximize their risk retention.

The new group will be headed by Jared Mitilier, who will serveas managing director of Acordia's Las Vegas office and nationalgaming practice leader.

Jay Kornmayer, head of Wells Fargo's gaming division, explainedthat other financial institutions have avoided the gaming industry“because of the details and regulations.”

“We strive to satisfy as many of their financial needs aspossible, including risk management, and in keeping with ourdelivery model, we look to Acordia and their unified resource teamto deliver those insurance products and services.”

Another reason Chicago-based Acordia is opening the new unit isthat the responsibilities of gaming executives are expanding beyondjust hospitality, gaming and entertainment, Mr. Mitilier said.

“The gaming industry is looking for alternatives to manage newrisks,” Mr. Mitilier said.

He explained that sponsorship, promotion/event marketing,branded entertainment, and the hosting of trade shows andconferences “are just a few of the expanding revenue sources thatcasino executives have as additional responsibility.”

Mr. Mitilier said, “With these new opportunities come new andsometimes complex risks,” and “Acordia has the technical expertiseto uncover and address these specific problems and the marketingknowledge to provide viable solutions from start to finish inhelping identify the wide variety of emerging risks the gamingindustry faces.”