Following the completion of the deal, the unit will be renamed First Product Protection and operate as an independent division within United Risk, adding product recall and contaminated product coverages to the company’s portfolio. Targeted sectors include food and beverage, transportation, consumer and industrial electronics, among others. The acquisition reflects United Risk’s strategy to expand its specialty insurance offerings and enter the product risk space, which includes coverage for losses due to product contamination or recalls. The addition of the crisis management team provides the company with established underwriting expertise and client relationships in sectors where such risks are increasingly relevant.
United Risk to acquire DUAL North America’s crisis management program
