King Risk Partners has acquired two Florida agencies specialising in professional liability and cyber insurance for professional services firms: Risk Avoidance Managers of St. Petersburg and Coastal Insurors of Lakeland. Terms were not disclosed.
Risk Avoidance Managers was founded in 2000, and Coastal Insurors in 1994. Both agencies write professional liability and cyber cover for law firms, accounting firms, financial planners, and individual professionals across Florida.
Scott Popilek, chief executive of King Risk Partners, said specialist expertise was central to the firm’s strategy.
“Building specialized expertise is an essential part of our long-term growth strategy,” said Popilek.
Michael Halfast, a producer for both agencies, said joining King Risk Partners would give the team broader capabilities, wider market access, and more resources, while keeping the client relationships they have built.
The deals mark a change in emphasis for King Risk Partners. Most of its recent acquisitions have been generalist personal and commercial agencies, expanding its footprint along the East Coast. This year, it has bought Conover Beyer Associates in New Jersey, Perry Insurance Agency in Massachusetts, PRL Associates in New York, and the Hanc Group in Georgia.
The Gainesville-based broker has grown quickly, now describing itself as the 36th largest US brokerage, up from 51st earlier this year.
Professional liability for small law firms, accountants, and financial planners is a niche that rewards specialist knowledge. Coverage forms, retroactive dates, and claims-made triggers vary between carriers, and errors in placement can leave clients exposed, while cyber cover for these firms, which hold sensitive client data, has become an essential add-on. By buying two established specialists rather than building the capability itself, King Risk Partners gains carrier relationships and expertise it can offer across its wider network.
