NU Online News Service, July 16, 1:45 p.m. EDT

Specialty insurance broker Equity Risk Partners has launched Equity Risk Partners Global, an international alliance of brokers dedicated to the risk needs of the private equity sector.

ERP Global is comprised of a group of independent brokers in countries where there is a significant amount of private equity activity, who are redefining the role of the insurance broker in global private equity through collaboration, the firm said.

ERP said realizing the inevitable growth of the industry as the global economy rebounds, and the imminent need for international expertise, the firm sought the participation of other brokers overseas that have well-established and broad industry experience coupled with a proven commitment to private equity.

"We are excited to be a part of this landmark alliance that connects insurance brokers and private equity firms on a global scale," said Michael Marcon, chief executive officer of ERP in a statement. "With the expertise of our member brokers and our ability to access previously untapped resources, the collaborative efforts of these brokers have the ability to have a significant positive impact on private equity transactions. This venture establishes the best global alliance of insurance professionals in the private equity space."

ERP said the new alliance will allow brokers to pool their resources and talents in order to increase efficiency in due diligence using a unified approach. Through the use of cutting-edge technology, brokers around the world will respond whenever one of the members is engaged in a new deal, thereby taking advantage of the unique experiences and abilities each broker offers.

"We consider this collaboration not only a reward for our professional attitude, but also a great challenge to further materialize our excellent working relationship with member brokers worldwide," said Alexander de Waal, Managing Director, Dorens & De Waal Amsterdam.

ERP, established in 2000, currently has 40 employees with offices in Chicago and New York in addition to its San Francisco headquarters.

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