Risk Strategies Acquires Maggs & Associates in New York

Risk Strategies Company, a privately held, national insurance brokerage and risk management firm based in Boston, announced Tuesday that it has acquired Maggs & Associates in Schenectady, New York. Terms of the transaction were not disclosed.

Established in 1987, Maggs & Associates is a brokerage specializing in serving the insurance placement and risk mitigation needs of colleges and universities. The firm has also built a client base in educational institutions below the secondary level, as well as in commercial lines such as finance, technology and healthcare.

Maggs & Associates’ owner and principal, Thomas Maggs, along with the firm’s approximately six staff members, will join Risk Strategies and continue to operate from the Schenectady location under the name Maggs & Associates, a Risk Strategies company.

Risk Strategies offers risk management advice and insurance placement for property/casualty, healthcare and employee benefits risks, serving commercial companies, non-profits, public entities and individuals. The firm has offices in 22 locations across the U.S. and more than 550 employees.

Risk Strategies’ higher education practice counts large public and private university systems as well as mid-sized institutions and community colleges among its client base.