Alliant Insurance Services Acquires Captive Program Manager POPIC

Alliant Insurance Services, the Irving, California-based insurance broker, has acquired Property Owners Protection Insurance Co. (POPIC), a national captive program manager that serves owners and managers of multifamily and single-family residential portfolios.

Financial details of the deal were not disclosed.

Based in Costa Mesa, California, POPIC’s risk management solutions redirect revenue streams that historically have gone to carriers or other third parties back to property owners and managers. POPIC provides a comprehensive suite of services to clients, which includes structuring their captives, managing their programs, and administering tenant compliance, Alliant said.

POPIC specializes in structuring, forming, and managing specialty insurance programs, according to its website.

POPIC’s acquisition adds additional products and underwriting capabilities within the real estate sector to the company’s Alliant Underwriting Solutions (AUS) division. The POPIC team will join Alliant as part of the AUS division.

“POPIC has a proven track record of helping large property owners and managers assume moderate and manageable risk to grow their income,” said Greg Zimmer, chief executive officer of Alliant. “With a diverse team of CPAs, attorneys, and insurance and underwriting professionals, POPIC brings a wealth of experience and highly consultative approach to our growing underwriting practice.”

“Joining forces with Alliant provides our team with expanded capacity and a deep well of resources, which will help us provide an even higher level of service and responsiveness to multifamily clients nationwide,” said Noah Molnar, CEO of POPIC.

Source: Alliant Insurance Services