The ISOA acquisition is analytically different from ERA’s previous deals. Fire suppression, sprinkler, alarm and security contractors have a unique and complex liability profile: full operations liability for systems that fail after installation, errors and omissions risk where system design is involved, and in some cases professional liability for engineering work – a combination that drives placement in special or excess and surplus lines rather than in the regularly accepted markets. An agency that has spent 19 years building underwriting relationships and client trust in that specific area holds a position that is difficult to replicate through scale alone, which is the business logic of the acquisition.
Macquarie-backed ERA picks first niche with fire contractor buyout & more related News Here
