News Release: FAIRVIEW PARK, OH, July 2nd, 2013
McGowan Purchases Assets of Professional Risk Placements, LLC
To Our Brokers:
We are excited to announce that The McGowan Companies (“McGowan”) has purchased the assets of Professional Risk Placements, LLC (“PRP”). Effective immediately, PRP will begin operating under the newly-formed “McGowan Risk Specialists” (“MRS”) brand.
Established in 1996, PRP has become one of the pre-eminent writers of Professional & Management Liability on the East Coast. “PRP fits exceptionally-well with McGowan’s growth strategy in the Northeast,” said Thomas B. McGowan, IV, CEO of The McGowan Companies. “We are very excited about the future having these well-respected insurance veterans and their staff as part of the McGowan team.”
The New Jersey office of McGowan Risk Specialists will be headed by Pete Wilkens, its Regional Vice President. This
office will be responsible for writing Professional & Management Liability in the following states: Connecticut, New
Jersey, New York, and Pennsylvania. Wilkens commented: “We are very pleased to announce this transaction with Thom and his team. McGowan has remarkable distribution and technological capabilities. Both will enhance the high-quality service PRP has been providing to its brokers for decades. Our intent is for McGowan – through McGowan Risk
Specialists and its sister company McGowan, Donnelly & Oberheu, LLC (“MDO”) – to become the premier writer of
Professional & Management Liability in the United States.”
All PRP brokers will receive automatic appointments with McGowan and its full range of products and capabilities. Further, all McGowan brokers in CT, NJ, NY, and PA will now have access to all of PRP’s product offerings.
Please note: • Your contacts will not change. • Your current commission structures will remain in place.
Should you have any questions, please do not hesitate to contact us.
Thomas B. McGowan, IV
President & Chief Executive Officer
800.545.1838 • email@example.com