Sompo Global Risk Solutions (GRS) has partnered with Willis Towers Watson (WTW) to offer insurance to the middle market commercial real estate industry.
The WTW Retail, Office and Industrial (ROI) platform offers a range of insurance products to meet the needs of the real estate market, including general liability, automobile liability, workers’ compensation and umbrella coverage. It also offers customised property products and a casualty pollution product tailored to address the unique risks faced by the segment.
It targets office, industrial and retail clients, with the exception of regional malls, with Sompo GRS individually underwriting each account.
Michael Chang, CEO of Sompo GRS, said the platform takes a holistic view of each client’s risk profile, emphasising the partners’ shared commitment to developing long-term relationships with clients.
Joseph Peiser, head of broking, North America at WTW, added: “Real estate companies face a myriad of complex challenges. The WTW real estate practice is known for taking a structured and integrated approach that adds value to clients and provides a breadth of knowledge and resources.”
Sompo GRS, part of Sompo International Holdings, offers multi-line capabilities targeted to accounts in select industry verticals including hospitality, real estate, life sciences, financial institutions and professional services, and Asian companies operating in the US and Mexico.
The WTW real estate practice functions as a boutique business housed within a global broker and is vertically integrated and aggregated in four primary centers across the US, in New York, DC, Dallas and Los Angeles.
Sompo International, Willis Towers Watson, Joseph Peiser, Michael Chang