Skip to main content

Sompo Global Risk Solutions and Marsh & McLennan Agency Launch Customizable Insurance Solution for the Commercial Real Estate Market

Written by Customer Service on . Posted in Public Companies.

PEMBROKE, Bermuda, Aug. 17, 2020 (GLOBE NEWSWIRE) — Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that together with Marsh & McLennan Agency LLC (MMA), Sompo Global Risk Solutions (GRS) has launched a new customizable insurance solution that helps commercial real estate owners-  of virtually all asset sizes and classes-  control costs, streamline policy administration and address potential  gaps in coverage.
As the Coronavirus pandemic continues to challenge commercial real estate firms, owners and managers are looking for opportunities to stabilize costs and simplify their insurance programs. To meet these needs, MMA and Sompo GRS have collaborated to develop a unique offering in the marketplace featuring international capabilities and customized coverage with negotiated policy enhancements to address critical risks for the commercial real estate industry.The MMA Select Commercial Insurance Program delivers industry-specific underwriting, claims, and risk control expertise for Commercial Real Estate firms including office, retail and industrial customers in addition to warehouses, data centers and self-storage facilities. The flexible policy structure can include incidental hotel and habitational properties for the primary lines of coverage in diversified portfolios. Available coverage includes property, general liability, umbrella, workers compensation, environmental, commercial auto and parametric weather risk protection.Michael Chang, CEO of Sompo Global Risk Solutions, commented, “We are pleased to collaborate with Marsh & McLennan Agency to offer this multiline solution tailored specifically for commercial real estate owners. This program leverages Sompo International’s technical and multiline capabilities, financial strength and deep expertise within the real estate industry vertical.”“In these times of uncertainty, owners and managers are seeking stable risk partners who understand the unique challenges inherent to each segment of the Real Estate industry,” said Denise Perlman, Executive Vice President of Business Insurance & National Partnerships at MMA. “In partnership with Sompo GRS, the Select Commercial Insurance Program offers real estate owners a comprehensive set of resources for navigating the volatility of today’s market with a broad range of coverages, competitive pricing, and a simplified approach to insurance and risk management.”Sompo GRS provides a client-centric white-glove service approach to offering comprehensive multiline 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 and excess casualty, and environmental coverage, as well as parametric natural catastrophe products to small, middle-market and large accounts across target industry verticals in the U.S and Mexico. Sompo GRS also offers the same level of sophisticated services and coverages to Asian-interest accounts in the U.S. and Mexico. About Sompo InternationalSompo Global Risk Solutions is part of Sompo International Holdings Ltd. (Sompo International), 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.About Marsh & McLennan AgencyMarsh & McLennan Agency LLC is a subsidiary of Marsh established in 2008 to serve as a platform for the middle market. MMA offers commercial property, casualty, personal lines, and employee benefits to midsize businesses and individuals across North America.ContactSompo International
Cara Gallagher
SVP, Marketing ＆ Communications
Phone: + 1 917 421 4973
Email: cagallagher@sompo-intl.com 

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.