The insurance brokerage and risk management firm Integro Ltd. has acquired Entertainment Risk Management Ltd. (ERM), a London-based managing general agent (MGA), to augment its international entertainment practice. Financial details of the transaction have not been disclosed.
ERM primarily serves brokers specializing in the film and television media industry. It was launched in 2002 by John Green and Karl Crawford, who will continue in their leadership roles and report to Neil Clayton, head of Integro’s global entertainment practice.
“Entertainment Risk Management adds an important element to Integro’s entertainment sector capabilities,” Clayton said in a statement released by New York-based Integro. “ERM will continue to operate as a Lloyd’s cover holder serving an international network of retail brokers providing a specialist underwriting service for their clients.”
ERM expects Integro to provide greater financial strength to develop new underwriting systems and new product lines, which will complement ERM’s core business, noted Clayton. “We are delighted to welcome John and Karl and look forward to sharing their expertise with our entire wholesale London team, which places business for clients in 125 countries.”
ERM was created to be a special, niche underwriting entity to focus on all entertainment related business — principally film and television productions, including advertising films/commercials, Integro said.
ERM’s principal partners on its main Film Package Facility are Lloyd’s underwriters, which enable them to transact cover in most territories in the world as admitted security or as a reinsurer, the company continued.
The broker noted that Lloyd’s underwriters are often able to write risks in film locations where other insurance carriers may not be able to insure.
Was this article valuable?
Here are more articles you may enjoy.