Sompo Global Risk, VGM Insurance to Offer Golf Course, Country Club Coverage

July 30, 2019

Bermuda-based specialty insurance provider Sompo International Holdings Ltd. subsidiary Sompo Global Risk Solutions (GRS) has entered into a strategic partnership with VGM Insurance & Financial Solutions (VGM) to offer its insurance products and services to golf courses and country clubs.

Sompo GRS will offer insurance products which include property, primary casualty, lead umbrella, auto, workers’ compensation, and environmental coverage along with VGM’s specialized risk management services to golf club owners and managers across the U.S. through retail insurance agents and brokers serving these niche markets.

The partnership targets golf facilities of all types and sizes including public, private and semi-private golf courses and country clubs as well as daily fee courses and golf management companies. Sompo GRS will individually underwrite each account.

Sompo GRS offers multi-line capabilities targeted to accounts in select industry verticals including hospitality, real estate, life sciences, financial institutions and professional services, in addition to Japanese and South Korean companies with operations in the U.S. and Mexico.

VGM works through a network of retail agents and brokers to help club owners and managers reduce costs, address operational concerns and manage risks. It has been in the club and hospitality space for almost 30 years and places a broad range of commercial insurance products for golf courses and management companies in all 50 states and the District of Columbia.

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.

VGM Insurance & Financial Solutions is a Bermuda-based captive holding company providing specialty insurance programs for a variety of niche industries. It is part of The VGM Group, Inc., which targets member service organizations across a diverse range of industries including health care, insurance, golf and hospitality. VGM Insurance & Financial Solutions is the exclusive insurance and financial provider for VGM Club, providing discounted purchasing opportunities to member golf clubs and facilities in key areas including agronomy, clubhouse and food & beverage.

Topics Excess Surplus Bermuda

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