Our Story

In 2012

Risk Theory

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.

Risk Theory Today

Risk Theory

Risk Theory 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.

Chairman & CEO

BRYAN WILBURN

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 founder, 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.
CFO

Jarred Brown

Jarred joined Risk Theory in 2013. He has a unique blend of financial and operational experience with over 18 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, working within companies and on transactions in healthcare service and financial service industries. Jarred leads the centralized support teams of Risk Theory including the accounting and the analytics teams. Jarred is a graduate of Birmingham-Southern College in Birmingham, Alabama.

General counsel and cco

Richard Schwartz

Richard joined Risk Theory in 2015 as General Counsel.  He has represented or worked within the insurance industry for 28 years.  He was an insurance trial attorney for Wilson, Elser and then was in-house counsel for Alexander & Alexander.  Richard later joined U.S. Risk Insurance Group as the President of Professional Claims Managers, its specialty Professional Liability TPA, where he served for 10 years.  Richard subsequently expanded into dual roles with U.S. Risk Insurance Group remaining as President of Professional Claims Managers, and also serving as U.S. Risk’s General Counsel and Chief Compliance Officer for 18 years before joining Risk Theory. Richard leads the compliance and legal support for all brands at Risk Theory. Richard earned his bachelor’s degree from the University of Maryland College Park and his Juris Doctor degree from the University of Baltimore Law School. 

Executive Director & CPCU

Gary Marshall

Joined Risk Theory in 2013 to start Risk Point DOL. He has a broad insurance background which includes 6 years in Claims at Progressive and Zurich (Universal Underwriters), and 25+ years in underwriting at Zurich and GMACI (Ally). 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 is a graduate of Union College in Lincoln, Nebraska.

Executive Vice President 

Ed Sustala

Ed joined Risk Theory in 2016, formerly leading Applied Claims Group.  Ed has 24 years of insurance, management, operations, and insurance finance experience. He has held multiple executive level positions during his insurance career. Ed started his journey with Progressive Insurance in the mid 1990’s where he managed personal and commercial auto product lines.  Ed earned his bachelor’s degree from Sam Houston State University in Huntsville, Texas.

EXECUTIVE VICE PRESIDENT– RISK THEORY

John L Garner

John has over 35 years of high-level experience in the insurance industry. Before Joining Risk Theory, John had been President of three insurance carriers and on the Board of Directors of eight carriers. Most recently, he was EVP of ClearView Risk Holdings (CVR) a specialty MGU and wholesale broker. He had also served as CVR’s CFO and ushered the company through a sales transaction with a large private-equity backed insurance group. Previously, John had been Senior Vice President of Houston International Insurance Group, CFO of Myron Steves (a specialty MGA), CEO of an insurance software design and implementation consulting company, CFO of Underwriters Indemnity (an Insurance Carrier group that was sold to RLI) and began his career as an auditor at KPMG.
EXECUTIVE VICE PRESIDENT– RISK THEORY

Richard Hitch

Richard Hitch bringing with him over 35 years of experience and expertise. Most recently serving as Chief Underwriting Officer at HIIG, overseeing various underwriting programs and operational units that included MGU’s. Prior experience includes underwriting leadership roles at Berkley Companies. Richard graduated from Austin College in Sherman, TX with a Bachelor of Arts in Business and Economics.
EXECUTIVE VICE PRESIDENT – RISK THEORY

Mike Dial

Mike previously led the systems and analytics team for Risk Theory for over 10 years. While in this role he oversaw the development and implementation of multiple predictive models, technical pricing tools, and underwriting automation platforms. Prior to Risk Theory Mike worked in various analyst roles. Mike achieved his CPCU in 2021 and his CISSP in 2023 and graduated from Truman State University in Kirksville, Missouri with a BA Economics.

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