United Risk Global, an Applied Underwriters-affiliated specialty insurance platform, has signed an agreement to acquire DUAL North America’s Crisis Management program and underwriting team, a move that will expand United Risk’s product set in product recall and contaminated products coverage and create a new independent division called First Product Protection.
On completion of the transaction, the acquired unit will be rebranded as First Product Protection and will operate as a standalone division within United Risk. The program targets a broad range of industries where product incidents can trigger significant financial and reputational exposure, including food and beverage; transportation such as aviation, aerospace, rail and auto; consumer and industrial electronics and appliances; communications equipment; sporting and recreational equipment; apparel and footwear; toys; and furniture.
From DUAL’s perspective, John Johnson, CEO of DUAL North America, said the deal supports a strategic focus on DUAL’s core growth priorities, including its other commercial property, casualty and financial lines offerings, as well as emerging specialty markets. He added that the crisis management team and portfolio developed under DUAL is expected to continue to grow under United Risk’s ownership, citing the companies’ existing partnership and alignment as factors behind the transaction.
The leadership of First Product Protection is expected to include the program’s founders, Mark LeBlanc and Robley Moor. LeBlanc, who will be based at United Risk’s headquarters at Rockefeller Plaza in New York, has 25 years of experience in product contamination, product recall, and crisis management, with prior roles spanning DUAL Group, Swiss Re, and Crum & Forster, as well as earlier positions at CV Starr, Hiscox, Marsh, and AIG. Moor, who will be based in the company’s London office, brings more than 25 years of specialty underwriting and leadership experience and has held senior crisis management roles at DUAL in both the UK and North America, as well as leadership roles at Swiss Re America and Swiss Re Corporate Solutions.
The deal is expected to close in early 2026. First Product Protection will be headquartered in New York at United Risk’s offices at 50 Rockefeller Center. Howden Capital Markets & Advisory served as exclusive financial advisor to DUAL North America.
KEY QUOTES:
“Program leadership, along with underwriting and claims staff, will join United Risk ensuring continuous operations for all brokers and insureds.”
Hayden Smith, CEO, United Risk
“From the perspective of the entrepreneur, Mark and Robley have built quite an attractive business. United Risk’s value lies in quality and diversification, and First Product Protection immediately adds value to the enterprise by complementing United Risk’s strong bench of program managers, varied lines of business, diverse roster of fronts, reinsurers and brokers, while further strengthening business ties with Lloyd’s.”
Jamie Sahara, Chairman, United Risk
“This transaction is a strategic step in our broader effort to focus on DUAL’s core growth areas, including our other commercial property, casualty, and financial lines, as well as emerging specialty markets. We’re proud of the exceptional team and strong business DUAL Crisis Management has built over the past several years, and we’re confident they’ll continue to thrive as part of United Risk. United Risk has been an excellent partner and it’s clear this is the right fit for the business.”
John Johnson, CEO, DUAL North America
