Sompo Global Risk Solutions to Offer New Umbrella Risk Purchasing Group Insurance Program for Commercial Real Estate and Hospitality Businesses
PEMBROKE, Bermuda – April 12, 2018 – Sompo International, a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that Sompo Global Risk Solutions (GRS) will offer umbrella insurance tailored to U.S. based accounts in the commercial real estate and hospitality industries to a new casualty insurance risk purchasing group developed by HUB International Limited (HUB). Sompo GRS will underwrite an array of umbrella coverages, including follow form employers’ liability and auto liability, for members of this new risk purchasing group, which is exclusive to HUB clients. The product targets commercial real estate businesses such as offices, warehouses, light industrial and retail properties as well as limited use hotels and mixed use space.
Sompo GRS offers comprehensive multi-line capabilities targeted to middle market and large accounts in select industry verticals which currently include real estate, hospitality, financial institutions and professional services, as well as Japanese Interest Accounts business. Sompo GRS provides a client-centric white glove service approach to each account, delivered by dedicated teams encompassing underwriting, actuarial, claims and risk management specialists.
Mr. Michael Chang, CEO of Sompo Global Risk Solutions, commented, “We are extremely pleased to offer the Strategic HUB International Excess Liability Defender, or S.H.I.E.L.D. product, to clients in the commercial real estate and hospitality industries. This strategic solution leverages Sompo’s underwriting capabilities and depth of experience within these industries. It offers businesses not only financial protection from catastrophic losses that can severely impact their profitability but the resources to further improve their risk management practices to prevent or reduce loss before it happens.”
About Sompo International
Sompo International is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Through its operating subsidiaries, Sompo International writes agriculture, professional lines, property, marine and energy, and casualty and other specialty lines of insurance and catastrophe, property, casualty, professional lines, weather risk and specialty lines of reinsurance. 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. Sompo International’s headquarters are located at Waterloo House, 100 Pitts Bay Road, Pembroke HM 08, Bermuda and its mailing address is Sompo International, Suite No. 784, No. 48 Par-la-Ville