Wright Risk Management
Wright Risk Management administers public entity insurance programs in New York State, providing underwriting, claims, risk management, and compliance services to municipalities, schools, and public-sector owned insurance reciprocals under five-year renewable contracts.
- Company typePrivate
- Founded1989
- HeadquartersGarden City, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Wright Risk Management does
Wright Risk Management (WRM) is a New York-based insurance program administrator that provides underwriting, marketing, claims handling, risk management, statutory accounting, regulatory compliance, and full administrative services for public entity insurance programs. Founded in 1989 as the administrator of the New York Schools Insurance Reciprocal (NYSIR) and later the New York Municipal Insurance Reciprocal (NYMIR, formed 1993) and the Comp Alliance workers' compensation program (founded 1994 with the Association of Towns of the State of New York), the company serves more than 300 municipalities, towns, schools, and public-sector organizations across New York State exclusively.
The company operates under five-year renewable administration contracts with public-sector owned insurance carriers, generating revenue through managed-services fees and recurring premium administration. Its product portfolio centers on workers' compensation program administration, including third-party administration (TPA) for self-insured plans, claims management, risk management consulting, and group purchasing alliances. No proprietary technology platform is disclosed beyond standard operational tools such as an ACH electronic payment system for bi-weekly workers' compensation disbursements.
Since 2014, Wright Risk Management has operated as a wholly-owned subsidiary of Brown and Brown Insurance, Inc. (NYSE: BRO), within its National Programs Division, providing access to shared resources, IT reinvestment, and operational scale. The business is relationship-driven, relying on direct enterprise field sales and association partnership channels, primarily through the Association of Towns of the State of New York. Customer retention on managed programs such as NYMIR has remained in the mid-to-high ninety-percent range, reflecting the sticky, contract-based nature of its revenue.
Wright Risk Management firmographics
Firmographics- Name
- Wright Risk Management
- Legal name
- Wright Risk Management
- Website
- https://wrightrisk.com
- Company type
- Private
- Founded year
- 1989
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Wright Risk Management administers public entity insurance programs in New York State, providing underwriting, claims, risk management, and compliance services to municipalities, schools, and public-sector owned insurance reciprocals under five-year renewable contracts.
- Ownership category
- akta.pro rank
Wright Risk Management industry classification
Industry- Product category
- Public Entity Insurance Program Administration
- NAICS
- Agencies, Brokerages, and Other Insurance Related Activities (5242), Claims Adjusting (524291)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Self-Insured Workers’ Compensation Programs (FSAJAEAD)
- akta.pro secondary industry
- Managed Workers’ Compensation (Loss Control, Claims & Return-to-Work Programs) (FSAJAEAH)
Keywords
Where Wright Risk Management is headquartered
LocationHeadquarters
- HQ city
- Garden City
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Wright Risk Management business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Insurance Program Administration Services: WRM generates revenue by providing comprehensive administrative services for public entity insurance programs under five-year renewable contracts. Services include underwriting, marketing, claims processing, risk management, statutory accounting, regulatory compliance, and general administration for insurance carriers.
- Insurance Premium Administration: The company manages insurance programs including NYSIR and NYMIR reciprocals, generating revenue through premium administration and surplus management for public sector insurance pools covering over 300 public entities.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels3 records
Wright Risk Management product offering
Product offeringCore offering
Wright Risk Management provides underwriting, marketing, claims, risk management, statutory accounting, regulatory compliance, and all administrative functions for public entity insurance programs in New York State. The company administers two public-sector owned insurance reciprocals (NYSIR and NYMIR) and the Comp Alliance workers' compensation program covering 300+ public entities, and offers third party administration (TPA) of self-insured workers' compensation claims for individual, group, and consortium public sector clients.
Product overview
Wright Risk Management operates as a comprehensive insurance program administrator for public entities in New York State, managing multiple insurance carriers and administering group and individual self-insured programs. The company manages two public-sector owned insurance reciprocals—New York Schools Insurance Reciprocal (NYSIR) formed in 1989 and New York Municipal Insurance Reciprocal (NYMIR) formed in 1993—along with the Comp Alliance group program founded in 1994 covering over 300 public entities. Core offerings include Third Party Administration (TPA) for self-insured workers' compensation plans, claims administration, risk management consulting, underwriting, marketing, statutory accounting, and regulatory compliance services. The product portfolio centers on workers' compensation insurance programs for public entities, delivered through managed insurance carriers, group purchasing alliances, and individual TPA arrangements.
Differentiator
Problem solved
Functional benefit
Brands
- Comp Alliance: New York State Municipal Workers' Compensation Alliance - a workers' compensation program for public entities founded in 1994, administered by Wright Risk Management in coordination with the Association of Towns of the State of New York.
Products and services
- Self-Insured Workers' Compensation Third Party Administration (TPA) of workers' compensation claims for public entities, offered individually, in group programs, and consortium programs. Services include excess coverage placement, loss control/risk management, underwriting, accounting, and regulatory compliance. Targeted at public sector clients needing self-insured workers' compensation administration.
- Comp Alliance New York State Municipal Workers' Compensation Alliance founded in 1994 by Wright Risk Management in coordination with the Association of Towns of the State of New York. The program includes over 300 public entities in New York State with fully funded underwriting surplus. Provides workers' compensation coverage to municipalities and schools.
- New York Schools Insurance Reciprocal (NYSIR) Public-sector owned insurance company formed in 1989, administered by Wright Risk Management under five-year renewable contracts, providing workers' compensation coverage for schools.
- New York Municipal Insurance Reciprocal (NYMIR) Public-sector owned insurance company formed in 1993, administered by Wright Risk Management under five-year renewable contracts. Earned 'Excellent' ratings from A.M. Best with retention rates in the mid-to-high ninety-percent range.
- Risk Management Services Consultative risk management services offered to program participants, including hands-on in-person training and virtual options, focused on identifying risk, mitigating exposures, and assisting with statutory requirements and regulations.
- Claims Administration Full-service claims management including claims reporting, adjustment, payment processing, and coordination with medical providers and billing inquiries for workers' compensation programs.
Quantifiable outcome
- Retention rates in the mid-to-high ninety-percent range achieved by NYMIR under Wright's management
Companies that use Wright Risk Management
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles3 records
Wright Risk Management technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Wright Risk Management partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Association of Towns of the State of New YorkcoreWright Risk Management, in coordination with the Association of Towns of the State of New York, founded the Comp Alliance (New York State Municipal Workers' Compensation Alliance) in 1994. The program has grown to include over 300 public entities in the state.
Scale indicators2 records
Recent moves6 records
Expansion highlights3 records
Wright Risk Management competitors and assessment
Company assessmentDirect peers
- PMA Companies: PMA Companies is a large insurance and risk management group with a dedicated public entity practice providing workers' compensation, risk control, claims, and TPA services to municipalities, schools, and government entities — directly comparable to Wright's NY public-entity WC administration model.
- York Risk Services Group: York Risk Services is a national third-party administrator for workers' compensation, liability, and property claims for public entities and insurance carriers — comparable to Wright in TPA-led WC claims administration and self-insured program management.
- Meadowbrook Insurance Group: Meadowbrook (now Star Casualty) has historically managed public-entity and group self-insurance pools and reciprocal insurance structures, making it a close analogue to Wright's NYSIR/NYMIR reciprocal administration business.
- TRISTAR Insurance Group: TRISTAR is a managing general agent and program administrator focused on public entity insurance pools (notably EMLMIC and public-sector WC pools), with deep municipal/school distribution that closely mirrors Wright Risk Management's Comp Alliance-style group program structure.
- CCMSI: CCMSI is a national workers' compensation and property/casualty third-party administrator serving municipalities, schools, and self-insured pools — closely aligned with Wright's public-entity TPA focus and self-insured administration model.
Broad incumbents
- Sedgwick: Sedgwick is one of the largest TPAs in the U.S. with significant public-entity, workers' comp, and risk management practices — a broader incumbent competing for the same NY and adjacent-state public-entity mandates that Wright administers.
- AmTrust Financial Services: AmTrust is a specialty P&C carrier and program administrator with significant workers' compensation writings, including public-entity and small-government WC programs — a broader incumbent offering competing WC coverage and program administration solutions.
- Arthur J. Gallagher & Co. Gallagher is a major global insurance broker and risk management firm with a sizable public-entity and public-sector WC practice; it competes with Wright both as a broker/consultant and via its in-house claims and program administration capabilities.
- Marsh & McLennan: Marsh is one of the world's largest insurance brokers with a dedicated public-sector practice and affiliated risk consulting/administration capabilities — competes for the same municipal and school district WC placement and program administration mandates as Wright.
- Berkley Public Entity (W.R. Berkley): Berkley Public Entity is the public-entity specialty division of W.R. Berkley, providing insurance and risk management services to municipalities and schools — a broader specialty carrier with adjacent administration capabilities that competes for the same client base as Wright.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Wright Risk Management financial estimates
Financial estimateRevenue estimate
Valuation estimate
Wright Risk Management leadership team
Management profileNumber of profiles
Wright Risk Management subsidiaries and ownership
Company hierarchySubsidiaries3 records
Wright Risk Management funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Wright Risk Management M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Wright Risk Management
What does Wright Risk Management do?
Wright Risk Management provides underwriting, marketing, claims, risk management, statutory accounting, regulatory compliance, and all administrative functions for public entity insurance programs in New York State. The company administers two public-sector owned insurance reciprocals (NYSIR and NYMIR) and the Comp Alliance workers' compensation program covering 300+ public entities, and offers third party administration (TPA) of self-insured workers' compensation claims for individual, group, and consortium public sector clients.
Is Wright Risk Management a public or private company?
Wright Risk Management is a private company. It is classified as corporate owned and is currently operating.
When was Wright Risk Management founded?
Wright Risk Management was founded in 1989. It employs 51 to 100 people.
Where is Wright Risk Management based?
Wright Risk Management is headquartered in Garden City, United States, in the North America region.
How does Wright Risk Management make money?
Two revenue lines are on record. Insurance Program Administration Services are the primary driver. The others are insurance Premium Administration.
Who are Wright Risk Management's main competitors?
Direct peers on record are PMA Companies, York Risk Services Group, Meadowbrook Insurance Group, TRISTAR Insurance Group and CCMSI. Broad incumbents are Sedgwick, AmTrust Financial Services, Arthur J. Gallagher & Co., Marsh & McLennan and Berkley Public Entity (W.R. Berkley).
Does Wright Risk Management have an API?
No public API is recorded for Wright Risk Management.
What industry is Wright Risk Management in?
Wright Risk Management's product category is Public Entity Insurance Program Administration. Its primary akta.pro industry code is FSAJAEAD, Self-Insured Workers’ Compensation Programs, with a secondary code of FSAJAEAH, Managed Workers’ Compensation (Loss Control, Claims & Return-to-Work Programs). Its NAICS code is 5242 and its SIC code is 6411.