Reinsurance News

SageSure launches commercial insurance products for coastal businesses

21st October 2020 - Author: Katie Baker

Insurtech company SageSure has announced the availability of a new line of commercial insurance products in underserved coastal markets.

SageSure Insurance Managers LogoSageSure’s new solutions will be launching in South Carolina followed by Florida, where its commercial product line will provide cover for over 300 classes of business in six industry groups, including office, retail and wholesale, restaurants, service and processing, habitational and real estate.

Terry McLean, Chief Executive Officer (CEO) of SageSure, commented: “SageSure has been delivering competitive products with coastal capacity to the residential space for a decade and we’re ready to offer this same strength to small businesses with our commercial products.

“Insurance in underserved areas is our specialty and 100 percent of our business is designed for challenged markets. We are serving areas where many insurance carriers simply won’t do business. It’s time for us to bring our stability to the commercial space.”

By leveraging a sophisticated, proprietary rating methodology, the Insurtech states that it can now write commercial business within 1/10 of a mile from a primary shoreline, in the majority of coastal regions.

Victor dos Santos, President of Commercial Insurance for SageSure, added: “We are excited to announce new BOP coverage, underwritten by A.M. Best A- rated SafePort Insurance Company, to independent agents in South Carolina and soon Florida. This launch is the culmination of a wonderful team effort between SageSure, SafePort, our agents and other partners.”

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