Risk Strategies acquires Benefits Network Insurance Agency

Risk Strategies Company, a privately broker and risk management firm, has acquired Benefits Network Insurance Agency (BNIA), a specialist broker focused on the development of employee benefits plans.

BNIA was founded in 1989 by Phil DiCiero as a wholesale broker providing services to the small group business of Blue Cross Blue Shield’s independent agents. BNIA added its own retail service capability in 1993 and its business today is almost equally balanced between retail group insurance sales and wholesale brokerage.

In building out its wholesale business, the company expanded its footprint to represent Anthem Blue Cross Blue Shield, Humana, Medical Mutual of Ohio, United Healthcare, Principal Financial, and Aetna.

“Ohio firms represented by BNIA and the brokers who rely on them for wholesale placements acknowledge the broad expertise and service commitment that Phil DiCiero brings to the business and has instilled in his entire team,” said John Greenbaum, Risk Strategies’ national employee benefits practice leader. “Phil’s son Philip joined the firm several years ago and has aided in bringing their practice to a new level.”

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