Commercial Risk Insurance

What Commercial Risk Insurance does

Commercial Risk Insurance is a privately held independent insurance agency founded in 2009 and headquartered in Strongsville, Ohio, serving clients across the Cleveland, Ohio area with consideration of risks outside Ohio on a case-by-case basis. The agency operates as a carrier-agnostic intermediary, holding appointments with 19 named insurance carriers spanning national leaders (Travelers, CHUBB, Hartford, Progressive) and regional mutuals (Frankenmuth, West Bend, Western Reserve Group, Donegal), supplemented by wholesale access to specialty insurers. Its product catalog is comprehensive across both personal lines (auto, homeowners, condo, flood, renters, life, motorcycle, personal umbrella, recreational vehicle, boat/watercraft) and commercial lines (general liability, commercial property, commercial auto, workers' compensation, cyber liability, errors and omissions, professional liability, builders risk, contractors, marine, transportation, liquor liability, landlord liability, farm), enabling cross-line bundling for both individual consumers and small/mid-sized businesses.

The firm has grown through three acquisitions completed between 2018 and 2021 — Gildenmeister Insurance Services (2018, Norwalk), The A.F. Goldenbogen Co (2020, Strongsville), and Thornburg Insurance Services (2021, Strongsville) — each retained under its legacy brand to preserve local customer relationships. Commercial Risk earns revenue through commissions paid by carriers on policies placed, with no proprietary technology disclosed and no AI/ML capabilities in evidence; the agency runs on standard industry software and a sales-led GTM executed by account executives and account managers. Marketing is concentrated on SEO, blog content, referral, and organic social channels, with distribution handled exclusively through direct agent consultation by phone, email, or in person rather than through digital self-service or marketplace channels. Leadership comprises President Robert Belgrave plus 14 named account executives, account managers, and accounting staff across the four offices.

Name

Commercial Risk Insurance

Legal name

Commercial Risk Insurance

Website

https://commercial-risk.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

1–10 employees

Short description

Commercial Risk Insurance is an independent insurance agency in Strongsville, Ohio, founded in 2009, serving individuals, small/mid-sized businesses, and farm owners across Ohio with personal, commercial, and specialty insurance placed through 19 carrier partners and three acquired sub-brands.

Ownership category

akta.pro rank

Product category

Insurance Brokerage Services

NAICS

Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Commercial Lines Insurance Brokerage (FSAEADAB)

akta.pro secondary industries

Commercial Property Insurance (FSAJACAE), Fleet & Commercial Auto Liability (FSAJABAA), Public Liability (Premises/Operations) (FSAJADAD), Mid-Market Commercial Package (Package Policies) (FSAJAFAB), Commercial Umbrella Insurance (FSAJANAB)

Keywords

• Independent insurance agency
• Commercial insurance brokerage
• Personal insurance coverage
• Business insurance solutions
• Risk management services

Headquarters

HQ city

Strongsville

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Insurance Agency Commissions: As an independent insurance agency, Commercial Risk Insurance earns revenue through commissions paid by insurance carriers for policies placed on behalf of clients. They represent the customer (not the carriers) and receive compensation from multiple insurance carriers for successfully matching clients with appropriate coverage.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Commercial Risk Insurance is an independent insurance agency that places personal and commercial insurance coverage on behalf of clients by shopping across multiple insurance carriers. It functions as an intermediary, recommending and binding policies through its appointed carriers rather than underwriting coverage itself.

Product overview

Commercial Risk Insurance is an independent insurance agency established in 2009, offering a comprehensive portfolio of personal and business insurance products. The company operates as an independent agency representing multiple insurance carriers rather than a single provider, enabling them to offer customized coverage solutions. Their personal insurance offerings include auto, homeowners, condo, flood, renters, life, motorcycle, personal umbrella, recreational vehicle, and boat/watercraft insurance. Their business insurance portfolio encompasses general business coverage along with specialized products including builders risk, commercial auto, commercial property, commercial umbrella, contractors, cyber liability, errors and omissions, general liability, landlord liability, liquor liability, marine, professional liability, workers' compensation, farm, and transportation insurance. The agency serves clients in the Cleveland, Ohio area and beyond through multiple acquired agencies (Gildenmeister Insurance Services, The A.F. Goldenbogen Co, and Thornburg Insurance Services) and partnerships with regional and national carriers including Auto Owners, CHUBB, Donegal, Encompass, Encova, Foremost, Frankenmuth, Grange, Hagerty, Hartford, Millers Mutual, National General, Progressive, Safeco, Travelers, Utica First, West Bend, Western Reserve Group, and Westfield.

Differentiator

Problem solved

Functional benefit

Brands

• Thornburg Insurance Services: Insurance agency subsidiary acquired in 2021, continuing operations under retained brand
• Gildenmeister Insurance Services
• The A.F. Goldenbogen Co

Products and services

• Business Insurance Commercial insurance product line for business owners, covering property, liability, commercial auto, workers' compensation, and related risks; placed across multiple carriers by the independent agency.
• Personal Insurance Personal lines product line for individuals and households, including home, auto, and life insurance coverage placed across multiple carriers through the independent agency.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

19 partnerships are on record, tiered core and minor.

• Auto OwnerscoreChannel Partner/ Reseller/ DistributorNational insurance carrier providing auto, home, and business insurance products through the independent agency channel. Commercial Risk offers Auto Owners policies to clients seeking comprehensive coverage.
• CHUBBcoreChannel Partner/ Reseller/ DistributorGlobal insurance leader offering commercial and personal insurance products. CHUBB provides high-value insurance solutions distributed through independent agents like Commercial Risk.
• DonegalcoreChannel Partner/ Reseller/ DistributorRegional insurance carrier offering commercial and personal lines. Donegal focuses on community-based insurance through independent agents.
• EncompassminorChannel Partner/ Reseller/ DistributorInsurance carrier providing personal insurance products through independent agents.
• EncovaminorChannel Partner/ Reseller/ DistributorInsurance carrier offering commercial and personal lines products through independent distribution.
• ForemostminorChannel Partner/ Reseller/ DistributorInsurance carrier specializing in specialty products including mobile homes, motorcycles, and watercraft.
• FrankenmuthminorChannel Partner/ Reseller/ DistributorRegional mutual insurance company offering commercial and personal insurance in the Midwest.
• GrangecoreChannel Partner/ Reseller/ DistributorRegional insurance carrier focused on personal and commercial insurance in the Midwest and Southeast.
• HagertyminorChannel Partner/ Reseller/ DistributorSpecialty insurance carrier focused on classic and collector vehicles.
• HartfordcoreChannel Partner/ Reseller/ DistributorMajor commercial insurance carrier offering workers' compensation, business insurance, and auto coverage through independent agents.
• Millers MutualminorChannel Partner/ Reseller/ DistributorRegional mutual insurance company providing commercial insurance products.
• National GeneralminorChannel Partner/ Reseller/ DistributorInsurance carrier offering auto, home, and commercial products with focus on digital distribution.
• ProgressivecoreChannel Partner/ Reseller/ DistributorMajor insurance carrier known for auto insurance, offering products through independent agents and direct channel.
• SafecominorChannel Partner/ Reseller/ DistributorLiberty Mutual subsidiary offering personal insurance products through independent agents.
• TravelerscoreChannel Partner/ Reseller/ DistributorMajor commercial insurance carrier offering property, casualty, and business insurance through independent agents.
• Utica FirstminorChannel Partner/ Reseller/ DistributorRegional insurance carrier focused on commercial and personal insurance in New York.
• West BendminorChannel Partner/ Reseller/ DistributorRegional insurance carrier offering commercial and personal insurance in the Midwest.
• Western Reserve GroupminorChannel Partner/ Reseller/ DistributorRegional insurance group offering commercial and personal insurance products in Ohio.
• WestfieldminorChannel Partner/ Reseller/ DistributorInsurance carrier offering commercial and personal insurance with focus on community-based service.

Scale indicators4 records

Recent moves4 records

Expansion highlights5 records

Broad incumbents

• Acuity Insurance: Midwest regional mutual insurer offering personal and commercial coverage distributed primarily through independent agents. Comparable to Commercial Risk as a competitor-carrier in the same Midwest SMB and personal lines market with overlapping target customers.
• Erie Insurance: Major Pennsylvania-based property & casualty insurer with deep agent network across Ohio and the Midwest. Comparable to Commercial Risk as a competitor for the same Ohio small-business and personal lines customers, though Erie is a carrier (underwrites risk) rather than an independent agency.
• Westfield Insurance: Ohio-based regional P&C carrier offering personal, commercial, and specialty coverage through independent agents. Comparable to Commercial Risk as a Midwest insurance market player; notably, Westfield is also one of Commercial Risk's 19 carrier partners.
• Frankenmuth Insurance: Regional mutual insurer offering commercial and personal coverage across the Midwest through independent agents. Comparable to Commercial Risk as a partner carrier (one of 19) and as a competitor in the same Ohio commercial market.
• The Cincinnati Insurance Companies: Ohio-headquartered P&C carrier writing personal, commercial, and excess & surplus lines through independent agents. Comparable to Commercial Risk as an Ohio insurance market player and a competitor for the same Midwest commercial accounts.
• Grange Insurance: Regional mutual insurer offering personal and commercial lines across the Midwest and Southeast through independent agents. Comparable to Commercial Risk as a partner carrier competing for the same Ohio small-business market; both companies operate in the same distribution channel.

Direct peers

• Starke & Smith Insurance Group: Independent insurance agency offering personal and commercial coverage across multiple carrier partners. Comparable to Commercial Risk as a small/mid-market independent agency with sales-led distribution and bundled product approach.
• The James B. Oswald Company: Cleveland-based independent insurance agency providing personal and business insurance through multiple carrier appointments. Comparable to Commercial Risk as a regional Ohio independent agency with a similar independent-brokerage model and commercial lines focus.
• Celedinas Insurance Group: Ohio-based independent insurance agency serving personal and commercial clients through carrier partnerships. Comparable to Commercial Risk as a regional Ohio independent agency competing for similar SMB and individual customers.
• Heffernan Insurance Brokers: Independent insurance brokerage representing multiple carriers to serve commercial and personal clients. Closely comparable model to Commercial Risk: multi-carrier placement, sales-led GTM, and commercial lines focus, though significantly larger in scale.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/adkins-borling-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 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 Commercial Risk Insurance