By Vanessa Orr
For the past 20 years, Danna-Gracey, the largest independent medical malpractice insurance agency in Florida, has dedicated itself to providing insurance coverage placement for doctors and other health care providers. As a result of its recent merger with Risk Strategies, a leading national specialty insurance brokerage and risk management firm, the company now gains a nationwide platform through which its experts can provide medical professional liability coverage for physicians, surgeons, nurses and other health care professionals, as well as hospitals, ASCs, facilities, and long-term care, in addition to personal and commercial lines as well as employee benefits.
“My team and I are really excited about the merger, because it enables us to offer a vast array of solutions for the more complex risks that medical practices are encountering as they grow,” said Matt Gracey, president, Danna-Gracey. “Most medical practices are expanding—some quite quickly—and we felt that to keep up with our clients and our prospects, we needed more horsepower on our side.”
Business Insurance News ranked Risk Strategies, based out of Boston, MA, as the 16th largest U.S. broker and 6th fastest growing firm on its Top Insurance Brokers 2020 list. The company has more than 100 locations throughout the nation, as well as a staff of more than 2,500.
“Merging with a company of this size will give us the ability to bring in specialists, as well as all types of different coverages from malpractice insurance to cyber to fine art,” said Gracey.
“One of the things that attracted us most was their health care division,” he added. “It is extremely well-led, and the team is very well-versed in all of the different complex risks that are now becoming much more commonplace.”
Risk Strategies’ Health Care Practice, one of the industry’s largest, is a fully integrated national specialty team offering all lines of insurance and reinsurance for all types of health care organizations.
Risk Strategies approached Danna-Gracey approximately six months ago about the merger, impressed by its acumen in placing coverage for specific medical specialties and practices, as well as its innovative approach to effective, affordable coverage such as risk purchasing groups, which allow specialists with like risks to collectively negotiate for insurance coverage.
“Medical professional liability insurance and risk management are crucial for physicians and require deep expertise and strong relationships with the best carriers in the business,” said Bob Dubraski, Risk Strategies’ chief growth officer and national health care practice leader.
“Danna-Gracey has a great team and a well-deserved reputation in this complex specialty. We’re excited they have joined Risk Strategies and our national team of dedicated health care industry professionals.”
While Danna-Gracey will assume the Risk Strategies’ name, clients can rest assured that they will be working with the same insurance professionals that they’ve trusted for the last two decades.
“Clients will still be working with us, but now when they want more complex types of coverages, we will be able to bring in specialists from the Risk Strategies’ team,” said Gracey. “Instead of having to go outside of our agency to find those specialists, we will have them on staff, which is much more advantageous for our clients.
“Our specialty focus built our statewide success, and joining a national-scale firm with that same focus on specialist expertise means our business and its people can grow and our clients will have easy access to a wider range of experts and services,” he added.