Our Story
In 2012
Amherst Speciality Insurance Company
Is formed with the idea of starting a collection of brands that are independently focused on specialty areas of insurance services. Our vision is to identify, recruit, and ultimately hire the best talent in niche classes and provide the support, autonomy, and accountability to build a unique brand within the insurance marketplace. Together these independent brands form a platform that share central services that are committed to technology and analytics. Teams challenge each other to break apart the business to identify opportunities and rebuild the product, distribution process, and claims handling to create a unique solution to difficult problems in the marketplace.
2013
Risk Point is formed, partnering with Gary Marshall to lead a Dealers Open Lot MGU
2015
RISK POINT GARAGE IS FORMED TO UNDERWRITE GARAGE PACKAGE FOR AUTO DEALERSHIPS
2015
Risk Theory Insurance Services is formed to provide a specialty underwriting platform
2016
APPLIED CLAIMS GROUP IS A THIRD PARTY ADMINISTRATOR FORMED TO PROVIDE SPECIALTY CLAIMS SERVICES
2017
APPLIED APPRAISAL SOLUTIONS IS FORMED TO PROVIDE APPRAISAL SERVICES FOR PROPERTY DAMAGE
2019
REDSTONE UNDERWRITERS IS FORMED TO UNDERWRITE GENERAL LIABILITY FOR ARTISAN CONTRACTORS
2020
STRIKER INSURANCE SERVICES IS FORMED TO UNDERWRITE MONO-LINE COMMERCIAL AUTO
2021
JUPITER RISK SERVICE IS CREATED TO PROVIDE INSURANCE SOLUTIONS FOR THE HABITATIONAL MULTI-FAMILY COMMERCIAL MARKET.
Amherst Today
Amherst Speciality Insurance
Amherst Speciality Insurance companies currently employ over 250 individuals within 8 offices and have remote team members in over 30 states. In 2022, our collective brands will transact over $1B in premium. We continue to focus on identifying unique opportunities in the marketplace, partner with talented and like-minded insurance professionals, and build brands to a market leading position.
BRYAN WILBURN
Chairman
- Bryan began his professional career as a transactional wholesale broker in the early 1990’s.
- He founded Southwest Risk in 2004, as a transactional wholesale brokerage and program manager, which he grew into one of the largest commercial property insurance program managers in the United States. After selling the business in 2008, he remained as CEO until 2011.
- He started Risk Theory in 2012. As founder and chairman, Bryan provides strategic direction to the operations and growth of the businesses. As CEO, and chairman, Bryan provides strategic direction to the operations and growth of the businesses.
- Bryan is a graduate of the University of Texas at Austin.
Jarred Brown
Director
- Jarred joined Risk Theory in 2013.
- He has a blend of financial and operational experience with over 20 years of experience within financial service industries.
- His background includes serving in a variety of investment and operational roles for a leading middle market private equity firm.
- Jarred leads the centralized support teams of Risk Theory including the accounting, systems, and the analytics teams.
- Jarred is a graduate of Birmingham-Southern College in Birmingham, Alabama.
Gary Marshall
President
- Gary joined Risk Theory in 2013 to start Risk Point Dealer Open Lot
- He has a broad insurance background. which began as a Claims Adjuster at Progressive in1982
- He has been responsible for all aspects of insurance operations, and has specialized in auto dealer and garage insurance programs since 1988.
- Gary leads the development of new program opportunities and performs an active oversight role for the Risk Theory businesses.
- Gary achieved his CPCU in 1990, and is a graduate of Union College in Lincoln, Nebraska.
John L Garner
Treasurer
- John has over 37 years of high-level experience in the insurance industry.
- Before Joining Risk Theory, John was President of three insurance carriers and on the Board of Directors of eight carriers.
- Most recently, he was EVP of Clear View Risk Holdings, a specialty managing general underwriter (‘MGU’) and wholesale broker. He served as CVR’s CFO and ushered the company through a sales transaction with a large private-equity backed insurance group.
- John began his career as an auditor at KPMG specializing in auditing Insurance Carriers. He graduated with a BBA from Baylor University
Stephen P MacDonough
Chief Financial Officer
- Stephen has over 33 years of experience in the insurance industry
- Most recently, he was CRO for Berkley Oil & Gas, a subsidiary of WR Berkley
- Prior to WR Berkley, he was CRO at Tokyo Marine HCC for 15 years where he oversaw all financial reporting and reinsurance operations for 6 insurance companies
- Stephen began his career as an accountant at American Indemnity Financial Corp in Galveston, Texas. He graduated with a BS degree from the University of Texas Austin and a degree in Accountancy from the University of Houston
- Stephen obtained his CPA certification in 1993
Richard Schwartz
Secretary
- Richard joined Risk Theory in 2015 where he leads all compliance and legal functions
- Previously was a trial attorney for Wilson & Elder, representing numerous insurance agencies, brokers and insurance companies.
- Also served as in-house counsel for Alexander & Alexander Insurance Services
- General Counsel and Chief Compliance Officer U.S. Risk Insurance Group
- President of Professional Claims Managers
- Richard is a graduate of The University of Maryland College Park and has his Juris Doctor degree from the University of Baltimore School of Law
Richard Hitch
Director
- Richard recently was Chief Underwriting Officer at Houston International Insurance Group (now
known as Skyward Insurance) overseeing various underwriting programs and operational units that
included MGAs. - Previously he worked in various capacities at WR Berkley Corporation
- Provides over 35 years of Insurance Experience
- Richard is a graduate of Austin College in Sherman, Texas with a BA in Business and Economics