New York-based risk management and insurance consulting firm Compass Company, Inc. said today it has entered into a strategic alliance with Precision Discovery, an information technology risk and litigation consultant.

Terms were not announced.

Compass president is Greg Serio, former New York State insurance superintendent.

The company said that the alliance will enable Compass to assist its risk management clients with some of their most complex IT risk issues that require electronic discovery, computer forensics, IT security and litigation preparedness consulting.

As a result of the alliance, former U.S. Senator Alfonse M. D'Amato, R-NY, founder of Compass' parent company, Park Strategies, will become a senior advisor to Precision Discovery's board of directors to help guide the company and its strategic relationship with Compass.

Based in New York, Precision Discovery is an independent IT risk and litigation consulting firm that works with clients and their counsel to anticipate, provide insight on and overcome legal, regulatory and investigative challenges.

Precision Discovery is comprised of some of the industry's top experts in the fields of electronic discovery, computer forensics, IT security and litigation preparedness consulting services.

Mr. Serio said, “Because Compass is focused on bringing innovative services to our clients, this alliance provides us with an extraordinary opportunity to serve the critical needs of our risk management clients.”

Jerry F. Barbanel, president and chief executive officer of Precision Discovery, said, “With both firms focused on providing best in class risk mitigation services, we will be able to offer clients a comprehensive risk management offering. Most importantly, our clients will have access to some of the leading risk management, IT risk and litigation consultants and experts.”

Mr. Barbanel was previously with Aon Consulting, where he served as an executive vice president for the financial advisory and litigation consulting services practice.

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