PEMBROKE, Bermuda – October 7, 2020 – Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, today announced a new Directors and Officers Liability (“D&O”) insurance policy form for publicly traded companies. Supported by a growing team of experienced underwriting and claims professionals and backed by excellent financial strength, Sompo International continues to be a trusted insurance partner for publicly traded companies in the United States.
With over a decade of providing D&O coverage, Sompo International’s public D&O solution is the latest addition to the existing Sompo International Management Assurance Platform (“MAP”). Introduced in 2019, MAP is designed to provide private companies with the ability to customize their coverage selections in a single policy tailored to their risk profile. In response to the needs of the public D&O market, Sompo International now offers the same platform for publicly traded companies of all sizes.
Mr. Joseph Spallone, Senior Vice President of Commercial Management Liability shared, “Our primary form will offer customized coverage solutions for our clients during these challenging times for Directors and Officers. This offering reiterates our team’s commitment to the evolving D&O market in the U.S. and to offering coverage features that respond to market demands.”
Mr. Raymond Santiago, Executive Vice President, Head of Financial Institutions & Commercial Management Liability at Sompo International commented, “As a top-ten writer of D&O insurance in the United States, we are excited to expand the MAP Platform for our public clients. We will continue to substantially enhance our products, quality underwriting approach and related services to address the evolving risks and issues impacting our clients.”
About Sompo International
Sompo International Holdings Ltd. (Sompo International) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo International companies are wholly owned subsidiaries of Sompo Holdings, Inc., whose core business encompasses one of the largest property and casualty insurance groups in the Japanese domestic market. We maintain excellent financial strength as evidenced by the ratings of A+ (Superior) from A.M. Best (XV size category) and A+ (Strong) from Standard and Poor’s on our principal operating subsidiaries. For more information about Sompo International, please visit www.sompo-intl.com.
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