Washington, D.C. – Risk Cooperative, a minority-owned and operated insurance brokerage and risk advisory firm, announces its official Minority Business Enterprise (MBE) certification by the Capital Region Minority Supplier Development Council (CRMSDC). With this designation, the firm is uniquely positioned to provide Tier 1 insurance and risk advisory solutions to Fortune 2000 firms across the country. Founded in 2014 by a team of risk and insurance executives and licensed in all 50 states, D.C. and Puerto, Risk Cooperative is globally recognized in the fields of enterprise risk management, emerging risks, global insurance solutions, and operational resiliency.
While supplier diversity initiatives are growing in popularity, the National Minority Supplier Development Council (NMSDC) reports Fortune 500 firms still fall far short of their 10-15% minority spending goals, averaging just 2%.
“Supplier diversity programs target a wide range of procurement services, however, insurance and risk management is often excluded due to lack of qualified minority providers. With the CRMSDC certification in hand, Risk Cooperative will bring its full, Tier 1 capabilities to the table and help fill this void.” says Andres Franzetti, Risk Cooperative’s Co-Founder and Chief Executive Officer. “Supplier diversity is not just about meeting key benchmarks, it’s also about helping organizations build operational resiliency. The last few years have shown how critical a diverse network is to successfully navigate emerging risks. Risk Cooperative is now able to assist on both fronts.”
With significant discrepancies between population and minority representation in the business world, the MBE certification increases minority-owned firms’ economic competitiveness while mitigating procurement risk by supporting vendor diversification.
“Our team specializes in helping businesses build operational resiliency, and in our experience, diverse perspectives are critical to effective risk management – the public good, inclusivity, and business success are not in conflict,” says Les Williams, Chief Revenue Officer and Co-Founder of Risk Cooperative.
Risk Cooperative is a member of the CRMSDC, featured in many diverse supplier directories, as well as advocacy organizations including the Greater Washington Hispanic Chamber of Commerce, the Greater Washington Black Chamber of Commerce, and the Equality Chamber of Commerce DC Metro Area.
About Risk Cooperative
Risk Cooperative is an independent and certified minority-owned insurance brokerage and risk advisory firm. Licensed in all 50 states, D.C. and Puerto Rico, Risk Cooperative helps organizations address risk, readiness and resilience across all classes of risk – including comprehensive employee benefits, life and health, property and casualty, cyber and other specialty lines. Appointed with all major carriers and the Lloyd’s of London market, we place domestic and international insurance solutions to help meet clients’ needs.
CRMSDC, established in 1972, is celebrating its 50th anniversary as a not-for-profit economic development organization supporting growth in Maryland, the District of Columbia, and Northern Virginia through programs and services that help corporations enhance the diversity and innovation of their supply chains. CRMSDC is one of 23 regional affiliates of the National Minority Supplier Development Council, the only nationally recognized MBE certifying authority. CRMSDC also operates the U.S. Department of Commerce’s Virginia Minority Business Development Agency (MBDA) Business Center.
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