Case study
Teamwork and collaboration helps UK hospitality company secure consistent coverage in the US
Sompo's expert team develops multinational Property and Casualty insurance program for its hospitality client with restaurants in the UK and the US.
- Industry: Hospitality
- Line of business: Property, Casualty
- Premium: US $500,000 (GWP)
- Countries: UK, US
The Challenge
A UK broker needed Property and Casualty insurance for its hospitality client with restaurants in the UK and the US. The broker approached Sompo’s London-based Middle Market team for help developing a compliant multinational program that met the client’s needs within specific premium parameters.
The Solution
Sompo’s London and US Underwriting teams collaborated to develop a Controlled Master Program with local Casualty and Property policies in the US. Together, they vetted the policies to ensure compliance with regulations in each relevant jurisdiction and secured the appropriate level of Property and Casualty insurance to meet the client’s needs – all within the set premium targets for the global program.
Our ability to put together a global program managed out of the UK with local policies in the US is a testament to the flexibility of our Sompo Multinational Platform. This program, in particular, is a terrific example of how our Multinational Team coordinates seamlessly with our underwriters in London and the US to deliver consistent and compliant insurance solutions for our brokers and clients.
Becky Harris
AVP, Middle Market Underwriter, UK Commercial Lines
Global coverage
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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.