DOXA Insurance Holdings Announces its Acquisition of Financial Risk Solutions and Chill-Pro® Insurance Program
July 8, 2019, Fort Wayne, Indiana — Financial Risk Solutions, Inc., parent of the Chill-Pro® Insurance Program that provides comprehensive commercial HVAC service contract insurance and product warranty insurance, has announced its acquisition by DOXA Insurance Holdings, LLC (DOXA). Financial Risk Solutions will maintain operations under the leadership of Jim Wilson and the staff, retain the Financial Risk Solutions and Chill-Pro® names, and remain headquartered in Chicago, IL. The acquisition of Financial Risk Solutions follows DOXA’s two previous acquisitions of MGAs seeking succession plans.
“We are a relationship-based company with some partnerships reaching back 30 years,” states Jim Wilson, President of Financial Risk Solutions. “The opportunity of involving DOXA in our operations and becoming part of the DOXA team is something that aligns perfectly with our core values of credibility, dependability, integrity, and stability. This will create a new level of growth for the organization and the ability to continue building relationships within the HVAC insurance arena.”
Launched on June 1, 2000, Financial Risk Solutions experienced rapid growth and quick success as its commercial HVAC insurance program became widely embraced throughout the industry. FRS is an acclaimed industry leader and a specialized underwriting expert of insurance products designed to help minimize the risk associated with HVAC service contract agreements and extended warranties. Financial Risk Solutions works with commercial HVAC installers across the U.S. and underwrites on behalf of one of the strongest carriers in the industry with an A+ (Superior) rating by AM Best. More information about Financial Risk Solutions is available online at www.financialrs.com .
“Welcoming Financial Risk Solutions into the DOXA family of insurance providers is a mutually beneficial opportunity, and we very much look forward to working with Jim Wilson and the team,” explains Tim Wiggins, Chief Operations Officer of DOXA. “Companies like this are successful because of their ability to pair tremendous amounts of industry expertise with exceptional personal service over time. This is precisely the type of company DOXA helps achieve the next level. We’re in the business of helping MGAs implement customized succession plans and welcome interested MGAs to the table.”