Sompo GRS to offer epidemic and pandemic protection
Bermuda-based specialty re/insurer Sompo International is launching protection for epidemic and pandemic risk.
Sompo Global Risk Solutions (GRS), a division of Sompo International, will provide insurance based on a number of available pre-set coverage options including loss of income, extra expense, debt servicing, supply chain disruption and other fixed costs.
In its first year, limited capacity for the programme is available to Sompo GRS clients and their captives in the real estate, hospitality, financial services, professional services, technology and life sciences industries, as well as the unit’s Asian-interest accounts.
Michael Chang (pictured), CEO of Sompo GRS, said: “At Sompo Global Risk Solutions, we are committed to listening to our customers so we can bring them innovative risk management solutions to meet their specific needs. Our new epidemic and pandemic protection program combines the advantages of a parametric structure with traditional insurance to help our clients address the impacts of these unpredictable emerging exposures on their bottom lines.”
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