Applied Underwriters announced it will acquire Concept Special Risks, a UK-based international managing general agent, which provides coverage for a variety of nautical vessels and operators across the globe.
Based in Yorkshire, UK, and founded in 1999 by Tony Usher, Concept Special Risks is a licensed Lloyd’s coverholder. The company has a leading market position in the U.S. and Caribbean markets for motor yachts, trailer craft, sailboats and catamarans covering both private/pleasure and charter.
Concept Special Risks will continue to write business through retail agents in the U.S. and Caribbean. It has offices in the UK and in Florida.
The acquisiton of Concept Special Risks is another step for Applied Underwriters into the luxury market sphere, commented Steve Menzies, chairman of Omaha, Neb.-based Applied Underwriters.
“We are finding heightened demand among our growing customer base in the private clientele sector for thoroughly knowledgeable, truly experienced, and acutely specialized underwriting,” added