All Risks, the nation's largest independent wholesaler, this week announced its acquisition of Tower Program Insurance Services, a national program administrator based in Austin, TX. Tower, known for its national program for the tower construction industry, became part of All Risks on July 31.
Patrick Shea and Scott Hermesmeyer, founders of Tower, joined the National Specialty Programs unit of All Risks, but will continue to operate from Austin. Shea and Hermesmeyer will run the day-to-day operations, All Risks said in a press release.
"Their expertise of the tower construction industry distinguishes them in the marketplace and allows them to run a profitable program in a very underserved and difficult-to-place class of business," said Chris McGovern, senior vice president of All Risk.'s National Specialty Programs.
According to Tower’s website, Shea and Hermesmeyer worked with
AIG to start the first national insurance program for tower erectors in 1996. Prior to the All Risks acquisition, Tower’s programs provided liability and workman’s compensation insurance through
Zurich American Insurance Company. Tower has provided brokerage, underwriting, claims and loss control from a single unit specializing in catastrophic claims and loss mitigation to companies working in the tower erection and maintenance industry, especially in the fields of telecom, water storage, and wind energy.
