U.S. Risk Insurance Group LLC, the nation’s fifth largest Property & Casualty wholesaler and parent of leading entertainment insurance solutions provider Take1 Insurance, announced today it has acquired L.A. Xcess Insurance Brokers, Inc., a Los Angeles-based national wholesale broker of entertainment, sports and leisure insurance, and combined it with Take1 Insurance.
The move, according to Take1 Insurance Executive Vice President & Program Director Scott Carroll, creates a powerful new force in the entertainment industry able to offer an unmatched range of customized insurance solutions that meet the unique needs of almost every market segment— Rental & Staging, Film & Television Production, Loan Out, Touring Entertainment, Live Event Production, Event Service, Special Events, Motor Sports and Contingency.
“The combination of L.A. Xcess with Take1 Insurance means that, together, we can be the brokers for a broad spectrum of the modern entertainment industry, offering the best of both broking and underwriting,” Carroll said today. “With L.A. Xcess owners Richard Rutkin and Aaron Ma and their talented staff joining our talented staff, we have a team of experts that can serve as a one-point source of contact for nearly all forms of entertainment insurance. Together, Take1 and L.A. Xcess look forward to working with our domestic and international partners, who represent virtually every major entertainment and sports specialty market, to bring our retail customers the absolute best that the entertainment insurance industry has to offer.”
According to L.A. Xcess Founder Richard Rutkin, “We are delighted to join Take1 and the U.S. Risk family of companies. We believe Take1’s entrepreneurial culture matches up very well with ours, and we are excited to be able to both supplement our offering to current clients and to expand our client base through Take1 and the U.S. Risk network of agents.”