GE consolidates risk management and asset protection arms

GE Commercial Insurance, part of GE Employers Reinsurance Corp., says it will combine its Industrial Risk Insurers (IRI) and Global Asset Protection (GAP) Services companies under the IRI banner.
IRI will now provide both insurance capacity and loss prevention services. GAP Services will continue to provide independent property management services.
“We are very excited about the extended market opportunities of integrating the two businesses,” says Louis Parker, president & CEO of GE Commercial Insurance. “Bringing the loss prevention services business together with the insurance business is a strong, strategic fit, especially given IRI’s recent expansion of its primary loss limit capacity to $25 million.”
The new company will be led by current IRI president Dan R. Eudy.
The Canadian office of IRI will continue to function as normal, and GAP Services will continue to be offered to Canadian clients, confirms John Novaria of GE Commercial Insurance.