Sompo International Introduces Additional Professional Lines Capabilities for Private Companies
PEMBROKE, Bermuda – March 14, 2019 – Sompo International Holdings Ltd. (Sompo International), a Bermuda-based specialty provider of property and casualty insurance and reinsurance, announced today that the company’s U.S. platform has introduced a Management Assurance Policy (MAP), which expanded its primary professional lines insurance offering for private companies.
Through MAP, Sompo International offers new primary commercial crime and cyber liability insurance in addition to the company’s existing private company directors & officers liability, employment practices liability, fiduciary liability and professional liability coverages. MAP’s modular format provides private companies with the ability to customize their coverage selections in a single policy tailored to their risk profile. Admitted in most U.S. states, the product targets private companies in all industries, not-for-profit entities, healthcare organizations and professional service firms.
Mr. Fred Cooper, Executive Vice President of Commercial Management Liability at Sompo International, commented, “For many years, we’ve provided a full range of primary and excess management and professional liability products to public and private companies alike. With the inclusion of our new primary commercial crime coverage, our MAP form complements these capabilities, making it easier for private companies to customize their primary management, professional and cyber liability coverage options.”
Mr. Dan Wadley, Executive Vice President of Sompo Pro, added: “We are excited to offer primary cyber liability through our new multiline MAP product. In addition to tailoring a solution to meet private companies’ specific needs, our modular policy approach helps reduce potential coverage gaps, further strengthening our position as a preferred market for brokers and 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. 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 Road, Hamilton HM 11, Bermuda. For more information about Sompo International, please visit www.sompo-intl.com.
Phone: +1 441 278 0988