MIDDLETON, WISCONSIN (May 30, 2017) – AVID Risk Solutions of Middleton, WI announced today that Federal Chief U.S. District Judge James Peterson approved the sale of ISC insurance agency assets effective June 1st to AVID Risk Solutions, Inc. and Family Insurance Center.
ISC insurance agency was in receivership due to a multi-million dollar Ponzi scheme alleged against the former owner, Loren Holzhueter. Holzhueter ran an investment firm in addition to his insurance services and was under criminal investigation but passed away in April of 2015.
“This acquisition allows the clients and employees of ISC to put the past behind them and move forward in a positive direction,” said Brock Ryan, President of AVID Risk Solutions. “We’re hopeful that this purchase will help the victims of the Ponzi scheme recover a good portion of the money they lost.”
AVID Risk Solutions will be responsible for six out of the nine ISC locations (Watertown, Lake Mills, Fond du Lac, Beaver Dam, Oconomowoc, Waterloo)
Family Insurance Center will be responsible for the remaining three (Menasha, Chilton, Green Bay)
The ISC agency will remain in its existing communities and the acquisition will allow the current customers to continue the relationships that have formed, along with the customer service to which they are accustomed.
AVID Risk Solutions is an independent insurance agency based in Middleton, WI which services the Property/Casualty, Health insurance needs for businesses, families, and individuals. Since the business inception, AVID Risk Solutions has invested heavily in talent, technology, and is a growth oriented agency focused on being a leader in the Wisconsin marketplace for Property/Casualty & Health insurance needs for business.