Special Risk Insurance Managers (SRIM)

What Special Risk Insurance Managers (SRIM) does

Special Risk Insurance Managers (SRIM) is a Canadian Managing General Agent (MGA) headquartered in Langley, British Columbia, specializing in hard-to-place and niche insurance risks across sports, entertainment, commercial, and specialty lines. The company is incorporated and operates as a subsidiary of Brown & Brown Canada, itself part of Brown & Brown, Inc. (NYSE: BRO), one of the world's largest insurance intermediaries; SRIM describes itself as independently owned and operated in its day-to-day decisions while embedded within the Brown & Brown group. Founded in 1993 from the combination of four predecessor niche providers (Sports-Can Insurance Consultants Ltd., Special Risk Insurance Brokers Ltd., Special Risk International, and NG Williams & Associates Ltd.), SRIM has built a 30-plus-year track record with 200+ professionals across offices in BC, Manitoba, Ontario, and Nova Scotia and coverage spanning all ten Canadian provinces and territories.

SRIM's core product portfolio is organized into three classes of business: Sports & Entertainment (sports insurance, golf courses, festivals/special events, adventure tourism, fitness & lifestyle), Commercial (non-profit societies, facility users, commercial property, marine, marina operations, CGL, professional liability, D&O, medical malpractice, contractors equipment, forestry, motor truck cargo), and Specialty (vacant dwellings, high-value homeowners, rented dwellings, spa & salon, aviation, UAV/drones, protection services, resorts, life sciences, tattoo & piercing, equine). Underwriting authority is supported by multi-decade continuous contracts with Lloyd's syndicates and several of the world's largest insurers, providing primary capacity of $10M+ and umbrella capacity up to $50M+. The technology foundation is three proprietary online broker portals (Marine Plus Insurance, Sports Plus Insurance, and SRIM Insurance Plus) that allow brokers to quote and bind coverage within 5–7 minutes, email policies instantly, and access the system 24/7.

SRIM's business model is a Managing General Agent model: the company receives premium submissions exclusively from licensed insurance brokers (not direct from the public), retains delegated underwriting authority to quote and bind on behalf of contracted insurers, and operates an in-house claims function (partnering with Royal Claims Services Ltd. as delegated claims administrator) that resolves 95%+ of claims without escalation. The customer segment is the Canadian insurance broker community, serving mid-market and specialty risks across individuals, small businesses, and event/sports organizers. Pricing is quote-based by line of business; minimum premiums on products like vacant dwellings start as low as $500 plus fees, while umbrella coverage limits reach $50M+. Marketing channels focus on the website (srim.ca), LinkedIn, and industry events/conventions, with portal-driven broker relationships representing the core bottom-of-funnel motion. Revenue mechanics derive from MGA premium administration (commission and fee income on bound policies) and managed claims services.

Name

Special Risk Insurance Managers (SRIM)

Legal name

Special Risk Insurance Managers Ltd.

Website

https://srim.ca

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

101–250 employees

Short description

SRIM is a Canadian Managing General Agent (MGA) that underwrites and binds specialty and hard-to-place insurance risks across sports, entertainment, commercial, and niche lines exclusively through insurance brokers, supported by three proprietary online portals enabling quote-and-bind within minutes.

Ownership category

akta.pro rank

Product category

Specialty Insurance Managing General Agent

akta.pro primary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

Keywords

• Managing general agent
• Specialty insurance
• Niche insurance markets
• Commercial general liability
• Sports entertainment insurance

Headquarters

HQ city

Langley

HQ country

Canada

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. MGA Premium Administration: As a Managing General Agent, SRIM operates with full autonomy under insurance contracts, offering capacity to quote, issue policies, and manage claims. Revenue is generated through premiums collected on bound policies, with SRIM retaining underwriting authority from contracted insurers.
2. Claims Management Services: SRIM manages claims processing for bound policies, working with Royal Claims Services Ltd. as a delegated claims administrator. SRIM maintains in-house claims authority sufficient to resolve over 95% of outstanding claims.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

SRIM is a Canadian Managing General Agent (MGA) that underwrites, quotes, binds, issues, and services specialty and niche insurance products exclusively through the broker channel. Its portfolio spans sports and entertainment, commercial, and specialty lines—including hard-to-place risks—and is supported by three proprietary online broker portals that enable quote-and-bind within 5–7 minutes.

Product overview

Special Risk Insurance Managers (SRIM) is an award-winning Managing General Agent (MGA) serving Canada's specialty and niche product insurance markets. SRIM operates three online broker portals (Marine Plus Insurance for pleasure crafts, Sports Plus Insurance for fitness/dance/spas/sports risks, and SRIM Insurance Plus for drones and glass) that allow brokers to quote and bind within 5-7 minutes. The product portfolio is organized into three main classes of business: (1) Sports & Entertainment Insurance covering sports organizations, golf courses, festivals, special events, adventure tourism, and fitness & lifestyle; (2) Commercial Insurance covering non-profit societies, facility users, commercial property, marine, marina operations, commercial general liability, professional liability, D&O, medical malpractice, contractors equipment, forestry, motor truck cargo, environmental liability; and (3) Specialty Insurance covering vacant dwellings, high-value homeowners, rented dwellings, spa & salon, aviation, UAVs/drones, protection services, resorts, life sciences, tattoo & piercing, and equine. SRIM offers capacity to quote, issue policies, and manage claims while maintaining relationships with some of the world's largest insurers including multi-decade Lloyd's contracts.

Differentiator

Problem solved

Functional benefit

Brands

• Marine Plus Insurance: Online broker portal for Pleasure Crafts including runabouts, fishing boats, cruisers, ski boats, pontoons, houseboats, sailboats, and jet skis, as well as commercial use for fishing guides, sightseeing guides, and water taxis.
• Sports Plus Insurance
• SRIM Insurance Plus
• Charity of the Month

Products and services

• Sports & Entertainment Insurance Comprehensive insurance for sports organizations, recreational activities, fitness facilities, and entertainment venues including participant liability, accident coverage, and event insurance, distributed exclusively through insurance brokers across Canada.
• Commercial Insurance Commercial insurance products for organizations and businesses including property, liability, marine, professional liability, contractors, forestry, transport, and environmental coverages, distributed through brokers.
• Specialty Insurance Specialty insurance for hard-to-place risks across vacant dwellings, high-value homes, spas/salons, aviation, drones, security services, resorts, life sciences, tattoo/piercing, and equine operations.
• Marine Plus Insurance (Online Broker Portal) Web-based broker portal for pleasure crafts (runabouts, fishing boats, cruisers, ski boats, pontoons, houseboats, sailboats, jet skis) and commercial marine use (fishing guides, sightseeing guides, water taxis); supports direct credit card payment.
• Sports Plus Insurance (Online Broker Portal) Web-based broker portal for fitness, dance, spa, and sports-related risks covering individual and group instructors, fitness studios, bootcamps, yoga, Pilates, dance studios, and various sports with short-term and annual policies.
• SRIM Insurance Plus (Online Broker Portal) Web-based broker portal for drone/UAV liability and physical damage (filming, photography, aerial inspection, mapping, surveillance, agriculture) and glass risks (commercial, residential, and auto).
• Commercial General Liability Liability coverage for contractors and organizations ranging from small contractors to large multi-national entities, including hard-to-place contractor classes with products liability and oilfield operations exposure.
• Aviation Coverage Aviation insurance for physical damage and liability on airplanes, business jets, helicopters, warbirds, and UAVs across private, business, commercial, and industrial uses including agricultural spraying, flight schools, and skydiving.
• Vacant Dwellings & Buildings Insurance Insurance for vacant buildings (dwellings, commercial properties, buildings under renovation, high-value risks) with 3- and 6-month policy terms and premises liability limits of $1,000,000 and $2,000,000.
• Spa & Salon Insurance Insurance for spas and salons including hairdressers, estheticians, reflexology, aromatherapy, relaxation massage, tanning, and other spa treatments with up to $5,000,000 CGL and $2,000,000 Professional Liability.
• Sports Insurance Insurance for sports associations, leagues, clubs, and teams covering directors, officers, coaches, managers, officials, players, and volunteers with Comprehensive General Liability up to $5,000,000 plus accident coverages.
• Golf Courses Insurance Insurance for golf courses including liability coverage up to $100,000,000, professional liability for golf instructors, non-owned auto liability, property coverage, and Peak Season Increase of 25% up to $250,000.
• Festivals & Special Events Insurance Insurance coverage for festivals and events from large music festivals to small community celebrations including antique shows, weddings, outdoor gatherings, rodeos, parades, craft fairs, and fireworks, with limits up to $10,000,000.
• Non-Profit Societies Insurance Insurance for registered not-for-profit organizations producing festivals, special events, celebrations, civic anniversaries, and community functions with $2,000,000 CGL and $1,000,000 Directors & Officers coverage.
• Facility Users Insurance Insurance program covering activities and events of facility users including arenas, auditoriums, civic centers, hotels, schools, and public or private organizations with $2,000,000 per occurrence/aggregate limits.
• Commercial Property Insurance Property insurance for hard-to-place property including retail, office buildings, vacant buildings, mall complexes, arenas, resorts, sports training facilities, paintball facilities, golf courses, and light manufacturing.
• Marine Insurance Marine insurance covering cruisers, sailboats, runabouts, ski boats, pontoon boats, houseboats, trawlers, jet boats, and PWCs with P&I up to $1,000,000 and vessel values up to $200,000.
• Marina & Marina Operations Program Insurance program for marinas including ship repairs, yacht clubs, boat dealers, commercial watercraft operations, ship repairers, marine retailers, and course of construction risks.
• Professional Liability, D&O, and Medical Malpractice Professional liability and Directors & Officers insurance for consultants, contractors, and professionals including oil/gas/mining consultants, architects, engineers, health/medical practitioners, computer services, cyber risks, and multimedia companies.
• Contractors Equipment Insurance Insurance for contractors' equipment including hand tools, bulldozers, rock trucks, excavators, graders, loaders, backhoes, cranes, forklifts, and mining equipment with high limits available.
• Forestry Program Insurance for forestry operations including sawmills, contractors, logging equipment, log trucks, trailers, logging contractors liability, sawmills, sort yards, and forestry professional consulting E&O.
• Motor Truck Cargo & Commercial Auto Physical Damage Insurance for transport companies covering motor truck cargo and commercial auto physical damage with high cargo and auto physical damage limits, debris removal, and coverage for electronics, refrigerated goods, alcohol, and livestock.
• Contractors Pollution Liability (CPL) Pollution liability insurance for contractors against environmental liabilities from pollution incidents caused by operations, completed work, or transportation of materials, available as annual practice policies or project-specific coverage.
• Environmental Legal Liability (ELL) Environmental liability insurance protecting property owners, operators, and tenants against environmental liabilities from pollution conditions at insured locations, covering on-site clean-up costs and third-party claims.
• Professional Liability (E&O) Professional liability insurance protecting businesses and individuals against claims alleging negligence, errors, omissions, or failure to perform professional services, available as low-limit bolt-on extensions or high-limit stand-alone policies.
• High Value Homeowner's Program High-value home insurance on Lloyd's Residential Excellence Wording with no maximum home value, covering risks across Canada including short-term rentals, AirBnB, vacant dwellings, and seasonal homes with enhancements up to $500,000 mechanical breakdown.
• Rented Dwellings & Rooming Houses Insurance Insurance for hard-to-place rented dwellings and rooming houses in British Columbia, Alberta, Manitoba, Saskatchewan, Ontario, Nova Scotia, Prince Edward Island, and New Brunswick covering up to 4 units with prior losses and unique construction.
• Unmanned Aerial Vehicles (UAV/Drone) Insurance Insurance for drones and UAVs covering property and liability including filming, photography, videography, aerial inspection, mapping, survey, surveillance, and agriculture services with professional liability available.
• Protection Services Program Insurance for protection services including alarm installation, monitoring firms, security guard firms, security consultants, private investigation firms, and manufacturers of security/fire/protection equipment products with up to $10,000,000 CGL capacity.
• Resort Program Comprehensive resort insurance covering liability, property, personal, marine, and aviation for resorts across Canada with up to $10,000,000 in-house CGL limit and options for marinas, docks, slips, and guided operations.
• Life Sciences Insurance Insurance for life sciences risks including medical device companies, pharmaceutical companies, laboratories, biotechnology companies, clinical trials, skincare companies, nutraceuticals, veterinary products, and medical cannabis companies.
• Tattoo & Piercing Insurance Insurance for tattoo artists and studios with CGL limits up to $5M and Medical Professional Liability/E&O up to $5M, covering individual artists, body piercers, studios, product sales, guest artists, and laser tattoo removal.
• Equine Insurance Equine insurance with over 35 years of experience covering commercial equine liability for boarding, training, horse shows, clinics, breeding operations, riding instruction, horse transportation, horse mortality, and veterinarian liability.
• Adventure Tourism Insurance Insurance for adventure tourism operators covering hiking, trail rides, mountain biking, fishing charters, dog sled tours, kayak/canoe tours, rock climbing, zip lines, white water rafting, and hunting with Comprehensive General Liability up to $5,000,000.
• Fitness & Lifestyle Insurance Insurance for fitness professionals including group exercise instructors, personal trainers, health clubs, fitness studios, bootcamps, and yoga/Pilates studios with up to $5,000,000 Comprehensive General Liability plus $2,000,000 Errors and Omissions.
• All Risks Insurance All Risks insurance covering general business contractors, vacant dwellings, rented dwellings, high-value rentals, home-based businesses, CGL for hotels, restaurants, manufacturers, distributors, logging, trucking, sports & leisure, aviation, marine, and professional liability.

Quantifiable outcome

• 95%+ of outstanding claims resolved with in-house claims authority
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• Royal Claims Services Ltd.coreImplementation/ SI/ Consulting PartnerSRIM partners with Royal Claims Services Ltd., a recognized Delegated Claims Administrator known for excellence in claims management. Royal Claims has extensive expertise in Canadian and Lloyd's insurance markets, combining deep industry knowledge with advanced data-driven processes for efficient claims handling.
• Lloyd's SyndicatescoreOthersSRIM has partnered with Lloyd's syndicates to offer capacity for a wide range of risk classes, including commercial general liability for sports, leisure, entertainment, and challenging risk solutions. Primary limit capacity of $10,000,000+ with excess and umbrella coverage up to $50,000,000+.
• World's Largest InsurerscoreOthersSRIM maintains relationships with some of the world's largest insurers, including multi-decade continuous contracts that trace back to their founding. These contracted markets enable SRIM to offer comprehensive coverage across all specialty insurance lines.
• Insurance Brokers (Canada-wide)coreChannel Partner/ Reseller/ DistributorSRIM serves Canada's specialty insurance markets exclusively through the broker force. Insurance brokers submit applications on behalf of clients and access SRIM's online portals 24/7 for quoting, binding, and policy issuance.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Market position

Competitive moat5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/special-risk-insurance-managers
• Xx.com/specialrisk

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 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 Special Risk Insurance Managers (SRIM)