What PL Risk does

PLRisk Specialty Insurance Agency, LLC is a U.S. wholesale insurance brokerage headquartered in Franklin Lakes, New Jersey, founded in 1999 and operating as a subsidiary of Axis Management Group Holdings, Inc. The firm is exclusively focused on Professional and Management Liability insurance, distributing E&O, D&O, EPLI, Privacy & Network Security (Cyber), Commercial Crime, Fiduciary Liability, and Mergers & Acquisitions / Reps and Warranties products exclusively through retail insurance agents and brokers. It serves a diverse set of verticals including title agents and mortgage brokers, real estate professionals, healthcare, legal, technology, financial institutions, SPACs, and — since 2014 — a dedicated cannabis industry division; a Select Division additionally handles smaller accounts with premiums generally under $10,000.

The company's product portfolio is delivered through carrier partnerships across admitted and surplus lines rather than via any proprietary technology. PLRisk describes itself as running manual underwriting and placement processes, with retail agents submitting applications via email or fax and policies delivered through carrier partnerships. A free Cyber Hotline, operated in partnership with data-breach law firm Mullen Coughlin LLC, layers an in-house legal-counsel resource onto the cyber product. The Cannabis division also fields a podcast series targeting that vertical.

PLRisk earns revenue primarily through commissions on insurance premiums placed with carrier partners, with the Select Division explicitly addressing a long-tail, lower-premium segment and the parent affiliate Hiscox relationship providing a small-business quoting channel. Marketing is conducted via the firm's website (plrisk.com), blog (blog.plrisk.com), email newsletter, a cannabis-focused podcast, and industry conference participation (notably WSIA). The stated customer base exceeds 400 active retail agents and brokers, insuring hundreds of real estate risks, with PLRisk positioning itself as one of the nation's largest independent firms writing Commercial Real Estate E&O insurance.

Name

PL Risk

Legal name

PLRisk Specialty Insurance Agency, LLC

Website

https://plrisk.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

PLRisk is a wholesale insurance brokerage exclusively focused on Professional and Management Liability insurance. Founded in 1999 in Franklin Lakes, NJ, it distributes E&O, D&O, EPLI, cyber and specialty products to 400-plus retail agents and brokers across all 50 states.

Ownership category

akta.pro rank

Product category

Wholesale Insurance Brokerage

NAICS

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

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Management Liability (D&O/EPL/Fiduciary) (FSAJAGAD)

akta.pro secondary industries

Facultative Financial Lines Reinsurance (D&O, E&O, FI, Crime) (FSAOAFAF), Professional Umbrella / Excess (E&O/D&O Wrap) (FSAJANAH)

Keywords

• Wholesale insurance brokerage
• Professional liability insurance
• Errors and omissions coverage
• Management liability insurance
• Wholesale insurance distribution

Headquarters

HQ city

Franklin Lakes

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Wholesale Insurance Brokerage: PLRisk earns commissions from insurance carriers for placing professional and management liability coverage on behalf of retail agent partners. Revenue is generated through commissions on insurance premiums placed with carrier partners including admitted and surplus lines markets. The company serves retail insurance agents and brokers who submit applications on behalf of their clients seeking coverage for various professional liability exposures.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

PLRisk is a wholesale insurance brokerage that exclusively distributes professional and management liability insurance products to retail insurance agents and brokers who place coverage for their end-client insureds. Its portfolio includes Errors & Omissions (E&O), Directors & Officers (D&O), Employment Practices Liability (EPLI), Cybersecurity/Privacy & Network Security, Commercial Crime, Fiduciary Liability, M&A Reps and Warranties, a specialized cannabis industry program, and a Select Division for smaller accounts, all accessed through carrier partnerships spanning admitted and surplus lines markets.

Product overview

PLRisk Specialty Insurance Agency, LLC is a wholesale insurance brokerage exclusively focused on Professional and Management Liability insurance. The company does not offer a software product or platform; rather, it provides a portfolio of insurance products distributed through retail insurance agents and brokers. The core product portfolio consists of Errors & Omissions (E&O), Directors & Officers (D&O), Employment Practices Liability (EPLI), Privacy & Network Security (Cybersecurity), Commercial Crime, and Fiduciary Liability insurance. These products are distributed exclusively via wholesale carrier relationships and are tailored to specific industries and professions. The company also operates a Cannabis Insurance division providing specialized coverage for the cannabis vertical, and a Select Division serving smaller accounts under $10,000 in premium. A Mergers & Acquisitions / Reps and Warranties product line supports deal-side insurance needs. All products are distributed through retail insurance agent partners; there is no direct-to-consumer or self-service software platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Errors & Omissions (E&O) Liability Insurance Errors and Omissions insurance that covers legal defense costs, damage awards, and settlements arising from allegations of negligence or oversight in the delivery of professional services. Distributed through retail insurance agents and brokers to businesses across multiple industries including real estate, legal, healthcare, technology, architects and engineers, insurance agents and brokers, and consulting.
• Directors & Officers (D&O) Liability Insurance Directors and Officers liability insurance that protects individuals and companies from allegations of failure to perform their duties, breach of fiduciary duty, and securities claims. Provides Side A, Side B, and Side C coverage and is available for public, private, and non-profit entities, financial institutions, educators, and public officials. Distributed via retail insurance agents and brokers.
• Employment Practices Liability Insurance (EPLI) Employment Practices Liability Insurance that covers legal fees, settlements, and damage awards from employee claims such as discrimination, sexual harassment, FMLA violations, wrongful termination, and retaliation. Includes broad all-risk coverage and optional first-dollar defense and is made available across all classes of business with employees via retail agents and brokers.
• Privacy & Network Security / Cybersecurity Liability Insurance Privacy and Network Security (Cybersecurity) insurance covering first-party and third-party liability from data breaches, identity theft, and unauthorized use of confidential information. Covers notification costs, forensics, reputational damage, cyber hostage, fines and penalties, and regulatory compliance, with a free cyber hotline through Mullen Coughlin LLC for breach response. Distributed to retail insurance agents and brokers serving companies that store personally identifiable information.
• Commercial Crime Insurance Commercial Crime insurance that protects businesses against theft, fraud, and criminal activity including employee theft, burglary, robbery, wire transfer fraud, social engineering, and ERISA or employee dishonesty. Combined with risk management program development and delivered through retail insurance agents and brokers.
• Fiduciary Liability Insurance Fiduciary Liability insurance that protects fiduciaries against allegations of breach of duty in administering retirement plans, health plans, life insurance, disability plans, and employee benefit plans. Covers legal defense fees, settlements, and voluntary correction program costs, distributed through retail agents and brokers.
• Cannabis Insurance Comprehensive cannabis industry insurance covering commercial property, commercial crime, cyber liability, D&O, E&O, EPLI, general liability, product liability, and workers' compensation for cannabis businesses including cultivators, manufacturers, processors, wholesalers, dispensaries, and laboratories. Distributed through retail insurance agents and brokers via PLRisk's dedicated cannabis division.
• PLRisk Select Division A dedicated team and streamlined service process within PLRisk that serves smaller accounts with premiums generally under $10,000. Offers E&O, D&O, Commercial Crime, EPLI, and Cyber Liability products with efficient processing and carrier access for smaller insureds, distributed to retail insurance agents and brokers.
• Mergers & Acquisitions / Reps and Warranties Insurance Representations and Warranties insurance for M&A transactions, available on both sell-side and buy-side, that protects against breaches of representations and warranties in deal documentation. Placed through retail insurance agents and brokers supporting deal-side insurance needs.

Named customers6 records

Segments8 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Mullen Coughlin LLCcoreStrategic or Co-development PartnerMullen Coughlin provides a free cyber hotline to all PLRisk clients, connecting them with data breach attorneys in the event of a cyber incident. The firm assists with data breach response, security incidents, compliance issues, and defends litigation including national consumer class-action litigation and regulatory enforcement actions.
• Top-Rated Insurance CarrierscoreChannel Partner/ Reseller/ DistributorPLRisk has fostered strong partnerships with top-rated carriers across the U.S., including both admitted and surplus lines carriers. These relationships enable PLRisk to find coverage for even the hardest-to-place risks and provide competitive pricing.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Hull & Company: Hull & Company is a wholesale broker specializing in professional liability, management liability, and surplus lines for retail agents across the U.S. Its product set and channel partner model closely resemble PLRisk.
• Amwins: Amwins is the largest U.S. specialty wholesaler, offering professional liability, management liability, and surplus lines products to retail agents. It competes head-to-head with PLRisk across virtually every line PLRisk writes.
• Burns & Wilcox: Burns & Wilcox is a national wholesale brokerage specializing in professional, management, and surplus lines coverage distributed to retail agents. Its specialty focus on hard-to-place risks directly parallels PLRisk's positioning.
• Specialty Program Group (SPG): SPG is a platform of specialty wholesale brokers and MGAs focused on professional and management liability lines. It competes with PLRisk in placing specialty coverages through retail distribution.
• Brown & Riding Insurance Services: Brown & Riding is a wholesale brokerage and MGU with deep expertise in professional liability, E&O, and management liability. It competes with PLRisk in placing specialty risks through retail agents.
• McGowan Companies: McGowan Companies is a wholesale insurance brokerage group focused on professional, executive, and management liability lines. Its retail-agent-focused placement model is comparable to PLRisk.
• Risk Placement Services (RPS): RPS is one of the largest U.S. wholesale insurance brokerages, distributing specialty and professional liability coverage through retail agents nationally. It directly overlaps with PLRisk in E&O, D&O, and management liability placement to retail brokers.
• CRC Insurance Services: CRC is a major wholesale broker focused on specialty commercial and professional lines including E&O, D&O, and EPLI. Its retail-agent distribution model and surplus lines access closely mirror PLRisk's go-to-market.
• Insurance Innovators Group: Insurance Innovators Group is a wholesale brokerage focused on professional liability, management liability, and specialty lines for retail agents. Its specialization and distribution channel overlap directly with PLRisk.

Broad incumbents

• Westport Insurance Corporation (Swiss Re Westport): Swiss Re's Westport unit writes large-scale professional and management liability insurance through wholesale channels. While broader in portfolio, it competes with PLRisk on placement of excess D&O and E&O for large and middle-market insureds.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/plrisk

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 PL Risk