International Re (I-RE), a specialist captive insurance and reinsurance managing general agent (MGA), has increased its commercial property insurance limit up to $15 million from $5 million for its RE–PAID product.
At the same time, the organisation can also now facilitate additional capacity to build towers of excess coverage up to the total limit required.
What makes this important, is that I-RE’s RE-PAID product can now provide a more integrated solution for brokers and their clients, simplifying and streamlining the insurance placement process and reducing administration for brokers.
From what we understand, through I-RE’s RE–PAID product, high-performing mid-market businesses will be able to take back a share of their own premiums and risk, as well as take back control, and make solid profits in return too.
Andy Jeckells, Co-Founder and Co-CEO of I-RE, commented: “Many mid-market businesses, especially those with significant assets or complex operations, require higher limits to adequately protect them. Increasing our commercial property limit up to $15 million, and facilitating the placement of excess limits above this, is providing brokers with a compelling option where their clients can take a share of their own risk and reap the reward.
“We’re looking forward to the opportunities this current evolution of RE–PAID offers to our broker partners and their clients.”
Recently, MIJS Captive Management, LLC partnered with I-RE to help MIJS’s mid-market clients take on part of their own commercial property and casualty (P&C) insurance risk in a standalone captive.
