NU Online News Service Sept. 23, 12:50 p.m. EDT
Professional Risk Solutions (PRS), a leading professional liability wholesale insurance broker, said it has purchased the assets of Gremesco of Florida, LLC.
The acquisition expands Professional Risk Solutions' presence within the Southern U.S. marketplace, PRS said.
Gremesco of Florida, LLC is a full service Executive Liability wholesale insurance broker specializing in hard to place specialty insurance lines. Since being founded in 2005, Gremesco has placed specialty insurance policies for some of the most difficult to insure industries, including oil and gas as well as real estate and food services, PRS said, noting that this reputation has allowed Gremesco to accumulate an impressive roster of clients and industry relationships.
"This asset purchase is a component of our strategic growth strategy that includes adding great people that help us gain access to key markets, products and clients," De'Andre Salter, chief executive officer of PRS said in a statement. "We look forward to leveraging Gremesco's deep experience and industry contacts to counsel our clients through complex liability situations and securing hard to place coverage."
Gremesco President Chris Goettelmann will join PRS as an executive vice president and will serve as manager for the firm's new Palm Beach Gardens office. In addition to his management, entrepreneurial and underwriting background, PRS said, Mr. Goettelmanns brings decades of experience in the wholesale insurance marketplace, focusing on E&O insurance lines.
Dana Molina also joins PRS as an Assistant Broker. Ms. Molina's own experience in professional liability has allowed her to build a large book of business. Recently, Ms. Molina and Mr. Goettelmann placed a large E&O policy for an offshore well in the Gulf of Mexico, a region that has been extremely difficult to insure, PRS said.
Headquartered in Warren, NJ, with branch offices in Florida and PA, PRS is a wholesale insurance broker and provider of Directors & Officers, Errors & Omissions and Cyber Security liability coverages. PRS provides executive liability coverages for public and private companies as well as not-for-profit entities. www.prsbrokers.com .
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