Case study
Sompo’s Canada branch delivers capabilities leading to Multinational excess casualty solution
Sompo’s recently expanded footprint in Canada helps find a solution for this medical devices manufacturer in US and Canada.
- Industry: Medical Devices
- Line of business: Umbrella
- Premium: US $1.1m
- Countries: US, Canada
The Challenge
A manufacturer of medical devices sought a companion umbrella policy encompassing General Liability, Employers’ Liability and Commercial Auto insurance in the US and Canada. However, the client’s policy, placed with a third-party partner, prior to Sompo’s Canada branch being established, did not include Employers’ Liability and Auto insurance. Additionally, the original network partner did not offer Auto insurance for the client’s owned autos, which required Sompo’s Multinational team to devise a creative solution.
The Solution
Our Multinational Team leveraged Sompo’s recently expanded footprint in Canada, to find a solution. Instead of utilizing our third-party network partner, the new lead umbrella policy was placed with Sompo’s Canada branch. This enabled us to extend our insurance offering to address the client’s needs across all three lines of business under the existing policy wording.
Our Multinational Team did a great job helping us round out this client’s excess casualty program in Canada. They were very responsive to our needs, which helped us secure this new lead umbrella placement. Having a comprehensive in-house multinational capability in a key market like Canada truly helps Sompo compete and stand out in the North American market.
Jean Kim
VP, US Excess Casualty
Global coverage
Does your business operate across borders and continents?
Speak to our Multinational experts about a convenient, consistent approach to accessing global coverage that is compliant with local regulations.
Sompo International Holdings Ltd. (Sompo) is a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo 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. This information is descriptive only. Actual coverage is subject to the terms and conditions of the policies as issued.