PEMBROKE, Bermuda – August 12, 2021 – Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that Sompo Global Risk Solutions (GRS) will offer protection for epidemic and pandemic risk.
Triggered by civil authority restriction resulting from international public health emergencies declared by the World Health Organization, the new Sompo GRS Epidemic and Pandemic Protection Program provides insurance based on a number of available pre-set coverage options including loss of income, extra expense, debt servicing, supply chain disruption and other fixed costs. In its first year, limited capacity for the program is available to Sompo GRS clients and their captives in the real estate, hospitality, financial services, professional services, technology and life sciences industries, as well as the unit’s Asian-interest accounts.
Sompo GRS, a division of Sompo International, provides a client-centric white-glove service approach by offering comprehensive multi-line capabilities to accounts in select industry verticals including real estate, hospitality, financial institutions, life sciences, technology and professional services. Taking a holistic approach to risk management, the unit offers commercial property, primary casualty (general liability, commercial auto, workers’ compensation), lead umbrella, and environmental coverages, as well as parametric natural catastrophe products to small, middle-market and large accounts across target industry verticals in the U.S., Mexico, Europe and Asia-Pacific. Through its North American Asian Risk Solutions division, Sompo GRS also offers the same level of sophisticated services and coverages to Asian-interest accounts in the U.S. and Mexico.
Mr. Michael Chang, CEO of Sompo Global Risk Solutions, commented, “At Sompo Global Risk Solutions, we are committed to listening to our customers so we can bring them innovative risk management solutions to meet their specific needs. Our new epidemic and pandemic protection program combines the advantages of a parametric structure with traditional insurance to help our clients address the impacts of these unpredictable emerging exposures on their bottom lines.”
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. Sompo International is a company driven by its core values, a carrier that holds promise, trust and the commitment to protect at the center of everything it does. 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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