19 August 2020News

Sompo partners with Marsh to offer customisable insurance for commercial real estate owners

Sompo Global Risk Solutions has partnered with Marsh & McLennan Agency (MMA) to offer a new customisable insurance product for commercial real estate owners.

The MMA Select Commercial Insurance Program offers property, general liability, umbrella, workers’ compensation, environmental, commercial auto and parametric weather risk protection. It is designed to help real estate companies control costs, streamline policy administration and address potential gaps in coverage as they grapple with the fallout from the COVID-19 pandemic. Policy enhancements can be negotiated to address critical risks for the commercial real estate industry.

The product delivers industry-specific underwriting, claims and risk control functionality for commercial real estate firms including office, retail and industrial customers, in addition to warehouses, data centers and self-storage facilities.

Michael Chang, chief executive of Sompo GRS, said: “This programme leverages Sompo International’s technical and multiline capabilities, financial strength and deep expertise within the real estate industry vertical.”

Denise Perlman, executive vice president of business insurance and national partnerships at MMA, said: “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.”