A division of Sompo International Holdings is teaming with Willis Towers Watson to launch an integrated insurance platform targeted to middle market commercial real estate companies.
The partnership centers around the Willis Towers Watson Retail, Office and Industrial platform, which is designed to offer insurance products for the real estate market including general liability, automobile liability, workers compensation and umbrella coverage along with customized property and casualty pollution products tailored to address the unique risks faced by the segment. Willis Towers and Sompo will focus on retail, office and industrial clients, with the exception of regional malls, and Sompo GRS will individually underwrite each account.
Joseph Peiser, head of broking, North America for Willis Towers Watson, said in prepared remarks that the partnership with Sompo GRS builds on Willis Towers Watson’s existing Real Estate practice and experience.
“I am delighted that we have developed this partnership with Sompo GRS which builds on this experience, enabling us to create an integrated platform that leverages the combined depth and strengths of both organizations to better serve the needs of the middle market commercial real estate customer segment,” Peiser said.
Michael Chang, CEO of Sompo Global Risk Solutions said in prepared remarks that his company was pleased about the partnership and the added benefits it will bring customers in the months ahead.
Source: Willis Towers Watson, Sompo Global Risk Solutions