North American Risk Services (NARS), a national provider of property and casualty third-party administration (TPA) services, announced today that it has been purchased from Clarendon National Insurance Company by Global Risk Holdings (GRH). GRH, in conjunction with members of the NARS management team, have acquired all of NARS’ outstanding shares. Walt Sliva, President of GRH, will become Chairman/CEO of NARS. Robert Ruryk will become the Vice-President of GRH and will serve as President/COO of NARS.

“We have been looking to grow our TPA division through appropriate acquisition for some time. NARS’ national scope, highly experienced personnel and state of the art systems fit perfectly with our plans,” said Sliva. “We are confident that NARS’ continued commitment to tailored and responsive customer service combined with a new and more diverse marketing strategy will lead to both growth and a more significant role as a leader in the TPA marketplace.”

“NARS established a solid foundation and excellent reputation during its association with Clarendon and we look forward to continuing to provide them with the level of customer service they have come to expect,” said Ruryk. “However, we are thrilled to be associated with GRH and excited with the opportunity this association presents us to stand independently and expand significantly in the years to come. We look forward to sharing the benefits of this new relationship with our customers, employees and partners.”

Headquartered in Maitland, FL, North American Risk Services (www.narisk.com) provides nationwide claims, data and risk management TPA services to businesses, insurers, reinsurers and brokers in the United States. NARS is known for the experience and expertise of its employees and the application of those skills in controlling its customers’ loss and administrative costs by tailoring its claim management approach to fit each unique risk circumstance. NARS also provides its customers with a diverse array of ancillary services including auditing, medical cost management, recovery specialization and a state of the art yet user-friendly, web-based information system that is easily tailored to each customer’s specific needs.

Global Risk Holdings, headquartered in Raleigh, NC, is part of a consortium of insurance management companies specializing in providing industry related services to carriers, brokers, self-insureds or associations requiring specialized approaches and expertise. GRH’s other firms include Global Claims Service, Global Captive Management and Emissary Risk Partners. GRH seeks to provide a platform and environment where similarly focused companies can grow and thrive.