Sompo International adds commercial crime, cyber liability cover in US

Bermuda-based specialty re/insurer Sompo International Holdings is launching a management assurance policy (MAP) in the US that expands its primary professional lines insurance offering for private companies to include commercial crime and cyber liability risks.

The new coverages are in addition to directors & officers (D&O) liability, employment practices liability, fiduciary liability and professional liability coverages that the company already offers.

“For many years, we’ve provided a full range of primary and excess management and professional liability products to public and private companies alike. With the inclusion of our new primary commercial crime coverage, our MAP form complements these capabilities, making it easier for private companies to customise their primary management, professional and cyber liability coverage options,” said Fred Cooper, executive vice president of commercial management liability at Sompo International.

Dan Wadley, executive vice president of Sompo Pro, added: “We are excited to offer primary cyber liability through our new multiline MAP product. In addition to tailoring a solution to meet private companies’ specific needs, our modular policy approach helps reduce potential coverage gaps, further strengthening our position as a preferred market for brokers and clients.”

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