I-RE is to add commercial property as a new line of business to its RE-PAID product from the beginning of next month.
The firm said the addition of commercial property would sit alongside its current workers’ compensation and commercial auto offering.
Andy Jeckells, co-chief executive of I–RE, said: “The RE–PAID product continues to break new ground. I–RE has committed itself to providing solutions that give high-performing, mid-market businesses more control over their risks and a share in the underwriting profits of the kind that only large captives currently enjoy.
He added: “We are seeing exceptional demand for RE–PAID from brokers, who see the benefit of offering their clients across the United States the solution they’ve been looking for whilst improving their own revenues and increasing client retention.”
According to the firm, RE-PAID allows high-performing mid-market business owners to take a share of their own risks in their own stand-alone captive insurance company.
Kyle Selvig, director of commercial underwriting, Fortegra, which works with I-RE, said: “We are excited to extend our partnership with I–RE to further support its truly innovative RE–PAID product and help fulfil the long-underserved need of mid-market businesses for a captive property insurance solution.”
