Relation Insurance Services said late last month that it acquired Aon’s Albert G. Ruben, a brokerage for the entertainment industry for the last 65 years.
Terms of the deal were not disclosed.
The Albert G. Ruben name and team will be retained, including Managing Director George Walden and Senior Vice President John Galanis. The brokerage provides specialized insurance services to major film studios, independent production companies, Broadway, and multinational corporations.
Chicago-based Relation Insurance CEO Tim Hall said the company is “committed to building on their legacy by delivering exceptional service and innovative solutions to meet the unique needs of the entertainment industry.”
Relation and Sherman Oaks, California-based Albert G. Ruben said they are “poised to set a new standard for innovation and excellence in entertainment risk management, ensuring clients are equipped to navigate the complexities of a dynamic industry with confidence and success.”
“Relation’s personalized, relationship-driven approach aligns seamlessly with our commitment to delivering exceptional service,” added Walden. “Their dedication to fostering collaboration and preserving the culture that has been integral to our success gives our clients and employees confidence in this transition.”
Three years after Citizens Property Insurance Corp. made the unprecedented move to resolve many of its residential claims disputes through a state agency instead of through litigation, officials are now planning to send some commercial claims down that same path.
That will include condominium and other commercial residential coverage disputes, officials said at a Citizens Board of Governors committee meeting Wednesday. The board’s Actuarial and Underwriting Committee voted to start offering new endorsements to commercial policies, giving the insurer or the insured the option of having disputes heard by administrative law judges at the state Division of Administrative Hearings, known as DOAH.
