Sompo expands offering to meet public D&O market demand

Bermuda-based property and casualty re/insurer Sompo International Holdings has unveiled a new directors and officers liability (D&O) insurance policy for publicly traded companies.

Sompo’s public D&O solution is the latest addition to the existing Management Assurance Platform (MAP), which was introduced in 2019 to provide private companies with the ability to customise their coverage selections in a single policy tailored to their risk profile.

In response to the needs of the public D&O market, Sompo now offers the same platform for publicly traded companies of all sizes.

“Our primary form will offer customised coverage solutions for our clients during these challenging times for Directors and Officers," said Joseph Spallone, senior vice president of commercial management liability. "This offering reiterates our team’s commitment to the evolving D&O market in the U.S. and to offering coverage features that respond to market demands.”

Raymond Santiago, executive vice president, head of financial institutions & commercial management liability at Sompo International, added: “As a top-ten writer of D&O insurance in the United States, we are excited to expand the MAP Platform for our public clients. We will continue to substantially enhance our products, quality underwriting approach and related services to address the evolving risks and issues impacting our clients.”