BevCap Buys Dealer Risk, Expanding Captive Management Services

BevCap Management, an alternative risk and captive management firm, has acquired Florida-based Dealer Risk Services, a group captive insurance program.

BevCap, which manages BevCap Captive Group, called it a vertical integration that will allow the firm to expand its platform. Founded in 2008, BevCap said it works with brokers and agents to distribute its products. It is a subsidiary of Beyond Risk Management.

Dealer Risk Services, which services automobile dealerships, was founded in 1968. President Steve Gibson has been in the business since 1984, the company said in a news release.