What Alive Risk does

Alive Risk is a managing general underwriter (MGU) that specializes in liability and specialty insurance for the sports, leisure, entertainment, amusement, and special events industries. The company writes coverage across five core programs (Amusement, Contingency, Entertainment, Special Events, Sports & Leisure) plus three specialized products (ESA Crew Cover, Participant Accident & Health, Prize Indemnity), with excess liability towers up to $25 million for entertainment and $20 million for amusement, and catastrophic medical limits up to $5 million. It offers an online quoting portal enabling brokers to bind qualifying short-duration events (under 5,000 attendees, within 90 days, limits under $3 million) directly, with underwriter-mediated placement for more complex risks; risk management, loss control, and claims services are delivered through third-party TPAs and partner law firms.

The company operates as a division of RSG Specialty, LLC, a subsidiary of Ryan Specialty, LLC (NYSE: RYAN), within the Ryan Specialty Underwriting Managers (RSUM) division. Distribution is exclusively wholesale through retail insurance brokers and agents; Alive Risk does not solicit directly from the public. Leadership includes tenured specialty underwriters such as Scott Carroll (Director of Entertainment, 40+ years), Rodney Gerbers (Director of Amusement, 28 years), and Amy Riggers (Director of Sports & Leisure, 29 years), with executives including Patrick Gavin (CEO & President, with the firm since 2013) and Carrie Santonastaso (COO, joined October 2024 from EverSports).

The firm was founded around 2013-2014, was acquired by Ryan Specialty in September 2020 via the acquisition of All Risks, Ltd., and expanded further by acquiring EverSports & Entertainment Insurance from the Everest Group in October 2024, integrating that specialty book into its sports, leisure, and entertainment facility. In February 2026, Alive Risk became part of Ryan Specialty Canada Limited, a new holding company consolidating seven Ryan Specialty MGUs. Operations span offices in Minneapolis, London, and Indianapolis, with underwriting teams serving US, Canada, UK, and global contingency placements via the embedded Paradiso Risks team.

Name

Alive Risk

Legal name

Alive Risk (division of RSG Specialty, LLC)

Website

https://aliverisk.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Alive Risk is a managing general underwriter within Ryan Specialty that provides specialty liability, accident, and contingency insurance for amusement parks, entertainment productions, live events, sports, and K-12/participant accident risks, distributed exclusively through retail insurance brokers and supported by an online quoting portal.

Ownership category

akta.pro rank

Product category

Specialty Insurance Underwriting

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Product Liability Umbrella / Excess (FSAJANAI)

akta.pro secondary industry

Professional Umbrella / Excess (E&O/D&O Wrap) (FSAJANAH)

Keywords

• Specialty insurance underwriting
• Entertainment insurance programs
• Sports insurance coverage
• Managing general underwriter
• Special event insurance

Headquarters

HQ city

Sherman Oaks

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Insurance Premiums: As a managing general underwriter (MGU), Alive Risk earns revenue by underwriting insurance policies and earning premiums. The company works with retail insurance brokers, agents, and insurance carriers, maintaining in-house underwriting authority to provide coverage across multiple specialty lines.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Alive Risk is a managing general underwriter (MGU) that develops and underwrites specialty insurance programs for the sports, leisure, entertainment, and amusement industries. It distributes these programs exclusively through retail insurance brokers and agents via five core programs (Amusement, Contingency, Entertainment, Special Events, Sports & Leisure), supported by specialized products such as ESA Crew Cover, Participant Accident & Health, and Prize Indemnity, along with an online quoting portal for digital binding of qualifying risks.

Product overview

Alive Risk is a specialty insurance managing general underwriter (MGU) serving the sports, leisure, and entertainment (SLE) industries through five core insurance programs: Amusement, Contingency, Entertainment, Special Events, and Sports & Leisure. These programs are complemented by three specialized products (ESA Crew Cover, Participant Accident & Health, and Prize Indemnity) and an Online Quoting Portal for self-service binding. The company operates as part of Ryan Specialty Underwriting Managers (RSUM) division of Ryan Specialty, LLC (NYSE: RYAN), providing wholesale distribution, underwriting authority, and risk management services to retail insurance brokers. Recent expansion occurred through the October 2024 acquisition of EverSports & Entertainment Insurance assets from Everest Group.

Differentiator

Problem solved

Functional benefit

Brands

• Paradiso Risks: A leading contingency underwriter specializing in music, entertainment and sports industries, offering event cancellation and non-appearance coverage.
• EverSports & Entertainment Insurance

Products and services

• Amusement Program Specialty insurance program for fixed-location amusement operations including family entertainment centers, amusement parks, water parks, trampoline parks, bowling centers, zoos, and aquariums. Provides general liability and excess coverage with in-house loss control services for venue operators.
• Contingency Program Event cancellation and non-appearance insurance solutions covering festivals, fairs, conferences, sporting events, and touring entertainers. Protects against financial losses from cancelled, postponed, or curtailed events; underwritten via the Paradiso Risks team inside Alive Risk.
• Entertainment Program Comprehensive coverage for music, touring, live events, television, film, and DICE productions. Covers event promoters, venues, touring entertainers, production vendors, feature films, television, music videos, and DICE content producers with primary and excess liability options up to $25,000,000.
• Special Events Program Event insurance for festivals, conventions, concerts, weddings, concessionaires, vendors, and exhibitors. Features online quoting portal for short-term events and TULIP (Tenant User Liability Insurance Program) coverage for venues, with quick turnaround and short-term event capabilities.
• Sports & Leisure Program Insurance solutions for amateur and professional sports teams, leagues, tournaments, associations, sporting facilities, and motorsports. Provides accident medical, liability, property, and specialized concussion coverage.
• ESA Crew Cover Specialized liability and optional coverage product for Event Safety Alliance (ESA) members, designed to protect freelance technical production and stage crew in the entertainment industry against bodily injury and property damage claims. Coverage includes General Liability ($1M/$2M limits) with optional Hired and Non-Owned Auto, Accident Medical, and Blanket Additional Insured, plus ESA membership and safety training access.
• Participant Accident & Health Accident Medical coverage for students, athletes, participants, volunteers, and business travelers. Includes intercollegiate athletics, K-12 student accident, non-profit organizations, youth sports, and study abroad programs with catastrophic medical options up to $5,000,000.
• Prize Indemnity Prize Indemnity and Contractual Bonus insurance solutions for sponsors, retailers, marketing agencies, and sports teams. Tailored coverage supporting marketing promotions with prompt 24-hour response times; includes coverage for hundreds of millions of dollars in prize exposures.
• Online Quoting Portal Web-based self-service platform enabling retail agents and brokers to quote, bind, and issue coverage for special events and participant accident risks online. Features instant quoting capabilities for qualifying small-to-mid events under 5,000 attendees occurring within 90 days with limits under $3,000,000.

Quantifiable outcome

• Excess Liability towers available up to $25,000,000 for Entertainment and $20,000,000 for Amusement
• +3 more outcomes

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and flagship.

• Event Safety Alliance (ESA)coreStrategic or Co-development PartnerEvent Safety Alliance (ESA) and Alive Risk have partnered to provide ESA Crew Cover insurance for ESA members. This coverage protects freelance technical production and stage crew in the entertainment industry against claims of bodily injury or property damage. ESA members are underwritten as being best in class due to their safety training, resulting in considerable savings passed onto members. Coverage includes General Liability ($1M/$2M limits) with optional Hired and Non-Owned Auto, Accident Medical, and Blanket Additional Insured.
• Ryan Specialty (NYSE: RYAN)flagshipOthersAlive Risk is a part of Ryan Specialty Underwriting Managers (RSUM) division of RSG Specialty, LLC, a Delaware limited liability company based in Illinois. RSG Specialty, LLC is a subsidiary of Ryan Specialty, LLC. Founded in 2010 by Patrick G. Ryan, founder and former Chairman and CEO of Aon Corporation. Alive Risk was acquired by Ryan Specialty in September 2020 through the acquisition of All Risks.
• Paradiso RiskscoreTechnology or IntegrationParadiso Risks, a leading contingency underwriter in the music, entertainment, and sports industries, operates as a team within Alive Risk. The team offers actuarial, underwriting, and broking expertise for contingency insurance solutions, specializing in underwriting festivals and live music across the globe.

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• K&K Insurance Group: Specialty insurance MGU focused on sports, leisure, and entertainment risks, offering programs for participants, events, and facilities. Most directly comparable to Alive Risk given overlapping product mix (sports, events, entertainment, amusement) and broker-distributed specialty model.
• US Sports & Entertainment Risk: Specialty MGU focused exclusively on sports and entertainment risks, including participant accident, event liability, and team coverage. Comparable scale and product mix to Alive Risk's sports and leisure program.

Regional players

• Amwins: Large wholesale distributor and specialty MGU operator with extensive sports, entertainment, and event programs through multiple subsidiaries. Larger and more diversified than Alive Risk but competes for similar broker-distributed entertainment and sports business.

Broad incumbents

• Tokio Marine HCC: Specialty insurance group within Tokio Marine Holdings offering entertainment, sports, and contingency coverage through multiple divisions. Overlaps with Alive Risk on event cancellation, prize indemnity, and entertainment production risks.
• AXA XL: Large specialty insurer with entertainment, sports, and event cancellation practices within its specialty division. Provides overlapping coverage including event liability and contingency but at significantly larger scale and broader portfolio.
• Markel: Large specialty insurance carrier with significant entertainment, sports, and events practice (Markel Specialty). Serves overlapping customer base through both direct and broker channels, but operates across a much broader specialty portfolio beyond entertainment.
• Beazley: Specialty insurer with a dedicated sports, leisure, and entertainment team offering event cancellation, contingency, and entertainment liability coverages. Comparable on contingency and entertainment lines but operates across multiple specialty classes globally.
• Burns & Wilcox: Specialty wholesale insurance broker and MGU operator with entertainment, events, and sports capabilities. Operates as part of the H.W. Kaufman Group and provides comparable broker-distributed specialty products in overlapping verticals.
• Hiscox: Specialty insurer with sports, entertainment, and events offerings including event cancellation and contingency coverage. Broader specialty portfolio spans professional liability, cyber, and other lines, but overlaps with Alive Risk on entertainment and contingency.

Emerging players

• Sports Cover Direct: Specialty insurance provider focused on participant accident and sports liability coverage. Smaller and more focused than Alive Risk but addresses overlapping customer segments in youth sports, leagues, and amateur athletics.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alive Risk