Sompo Global Risk, Marsh & McLennan Launch Commercial Real Estate Market Product

Marsh & McLennan Agency LLC (MMA) and Sompo Global Risk Solutions (GRS) have launched a new customizable insurance product designed to help commercial real estate owners control costs, streamline policy administration and address potential gaps in coverage.

The new MMA and Sompo GRS offering features international capabilities and customized coverage with negotiated policy enhancements to address critical risks for the commercial real estate industry.

The MMA Select Commercial Insurance Program delivers industry-specific underwriting, claims, and risk control expertise for commercial real estate firms including office, retail and industrial customers in addition to warehouses, data centers and self-storage facilities.

The flexible policy structure can include incidental hotel and habitational properties for the primary lines of coverage in diversified portfolios. Available coverage includes property, general liability, umbrella, workers compensation, environmental, commercial auto and parametric weather risk protection.

Sompo GRS offers multiline capabilities to accounts in select industry verticals including real estate, hospitality, financial institutions, life sciences, technology and professional services. The unit offers commercial property, primary and excess casualty, and environmental coverage, as well as parametric natural catastrophe products to small, middle-market and large accounts across target industry verticals in the U.S and Mexico.

Sompo GRS also offers the same services and coverages to Asian-interest accounts in the U.S. and Mexico.

Sompo Global Risk Solutions is part of Sompo International Holdings Ltd. (Sompo International), a global specialty provider of property and casualty insurance and reinsurance, headquartered in Bermuda. Sompo International companies are wholly owned subsidiaries of Sompo Holdings, Inc.

Marsh & McLennan Agency LLC is a subsidiary of Marsh established in 2008 to serve as a platform for the middle market. MMA offers commercial property, casualty, personal lines, and employee benefits to midsize businesses and individuals across North America.