The Challenge
A large U.S. furniture retailer client had difficulty managing exposures at its Mexico manufacturing plant.
The Solution
Sompo’s Risk Control experts, working in conjunction with outside engineers and in-house facilities managers, assessed the client’s Mexico factory and developed a tailored strategy for mitigating risks at the location. Following the guidance from Sompo’s Commercial Property engineering team, the client invested in implementing the recommended loss prevention strategies at its Mexico factory. After completing the renovations, the client expanded its relationship with Sompo to include a customized commercial property solution for its factories in Canada, Mexico, and the U.S. The Property team worked closely with the Multinational team in Mexico and the US to successfully implement the enhanced global program.
Mark Baroni, SVP, U.S. Commercial Property, observed:
“At Sompo, our Risk Control and Claims specialists are an integral part of the Underwriting process. They monitor emerging trends and risks to help us tailor customized risk management solutions to meet each client’s unique needs. In this case, the value-added advice and expertise of our risk control engineers enabled our client to minimize their loss potential and stay ahead of the unexpected at their Mexico location, which ultimately led to them expanding their relationship with us to include locations in two additional countries.”
Key Contacts:
Mark Baroni
SVP, U.S. Commercial Property
Taslima Lazarus
AVP, Multinational Client Executive
Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.