Keystone Insurers Group makes equity investments in the East Coast Risk Management, LLC

The nation’s fourth-largest privately held insurance firm, Keystone Insurers Group (KIG), has purchased an equity interest in East Coast Risk Management, LLC (ECRM), specialists in risk management services. The transaction, recently completed, will provide KIG-franchised locations with an expanded suite of services.

ECRM is headquartered in North Huntington, Pa. The firm will offer – exclusively to KIG offices and their clients – risk management services including loss control, human resources, environmental consulting, third party administration and claims management.

Calling the investment “a strategic move,” George Wynne, senior VP of corporate development at KIG, said, “This will significantly enhance our services. It will enable KIG’s more than 250 locations in Pennsylvania, North Carolina, Virginia, Indiana and Ohio to effectively compete with the largest and most sophisticated of international agents and brokers.”

ECRM President Michael Lukart was a 26-year risk management veteran when he founded the firm in 2006 with Duncan Financial Group, Inc., and Seltzer Group, Inc., all of Pennsylvania. Lukart said he is “thrilled with the synergy created through formalizing our relationship with KIG.”

“The opportunity to partner with Keystone Insurers Group will help fuel our continued growth and expansion in states currently serviced by KIG,” Lukart said. “We have historically provided risk management services to a number of KIG clients, and this partnership just makes sense for both parties.”

Wynne added, “This is a great step in the growth of Keystone Insurers Group as a national franchisor of independent insurance agencies. We partner only with the best. East Coast takes Keystone to a whole new level of flexibility, responsiveness and value-added service for our clients.”