Sompo Global Risk Solutions Small Business Team Broadens Property Coverage to Help U.S. Clients Address Unique Commercial and Personal Property Exposures

April 30, 2021

Smaller companies face a unique set of risks that can change as their business evolves, especially as they purchase, lease, manage or otherwise accumulate commercial and personal property.

Focusing on accounts with annual premium across all lines of up to $100,000, the Sompo Global Risk Solutions (GRS) Small Business team offers an integrated approach to underwriting, claims handling and risk control services to help small commercial clients protect their business. The team targets companies in the real estate, hospitality, financial institutions, professional services, technology and life sciences industries, as well as Asian-based companies with international operations. The team offers a full suite of coverages, including commercial auto, general liability, workers’ compensation, umbrella and environmental.

In keeping with its innovative approach, the Sompo GRS Small Business team recently broadened its property offering to include 45 built-in coverages designed specifically to meet the needs of smaller U.S. commercial clients, including ordinance and law coverages, newly acquired or constructed property, and theft of money and securities.

“We recognize that small commercial businesses face unique exposures, particularly with respect to protecting their buildings, personal property and other assets,” observed Michael Warner, Vice President and Underwriting Leader of the Sompo GRS Small Business team. “To assist our small commercial clients in meeting their risk management needs, we have expanded our property offering to include a broad range of market-leading coverages for debris removal, valuable papers and records, discharge from sewage and drainage systems, utility service, laptop computers, unauthorized use of business credit cards, and more.”

“The formation of the Sompo GRS Small Business team was a logical extension of our focus on serving large and middle market companies across the industry verticals and customer segments we target,” adds Marnie Shore, Vice President, Small Business Products Leader. “Since the team’s beginning, we’ve worked to develop market-leading products and services to this fast-growing segment.  Our tailored property product not only fills gaps in the U.S. market, but is flexible enough to grow with our small commercial clients.”

Offering small commercial clients significant coverage limits in addition to a broad range of coverages is another way the Sompo GRS Small Business team has quickly adapted to meet the needs of its clients.

“By taking a comprehensive approach to assessing each risk, we can easily put together a suite of coverages that incorporates property, general liability, auto, workers’ compensation, lead umbrella, parametric products, environmental liability protection and other solutions based on specific business needs. It’s about efficiency with a personal touch,” adds Mr. Warner.

Learn more about Sompo GRS Small Business.

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