PL Risk Advisors, Inc. of Franklin Lakes, NJ announced today that the company has now completed its second full year of operations as a specialty wholesaler for professional and management lines. The company has achieved a 30 percent growth during the past year, on top of the overwhelming success in the first year. This growth has led to having written over $12M in professional and management liability premiums through the new venture. PL Risk announced that it has successfully completed contracting with its insurance markets and retail brokers to lay out their program in almost every state in the country.
President Mike W. Smith said, ”We are very pleased with our growth and most importantly the relationships we have been able to foster in such a short time. We have contracted with hundreds of new agents as we have expanded our product offerings in over 40 states with over 50 solid carriers. Turmoil in the marketplace creates opportunity for us.“
The company anticipates another banner year in 2016 as cyber and privacy liability continues to rise, carrier appetites continue to change, and the insurance agency business continues to consolidate and create turmoil in the market place.
PL Risk Advisors Inc. (PL Risk) is the wholesale division of Axis Management Group Holdings Inc. which also owns Axis Insurance Services, LLC, a rapidly expanding E&O specialty broker specializing in insurance agents and commercial real estate. PL Risk offers the same high-quality expertise and markets, however focusing exclusively as a wholesale insurance broker. PL Risk believes in building solid relationships with their insurance carriers so that they can negotiate the right coverage at competitive rates. The professional staff at PL Risk has the experience and knowledge to provide retail agents with expertise and access to markets that may not be available in the general market.
