Sompo Global Risk Solutions (GRS), a subsidiary of Bermuda-based specialty property and casualty (P&C) re/insurer Sompo International, has entered into a new partnership with specialist captive insurer VGM Insurance & Financial Solutions.
The arrangement will allow Sompo GRS to offer its insurance products and services to golf courses and country clubs.
Through retail insurance agents and brokers serving these niche markets, Sompo GRS will provide a range of products, including property, primary casualty, lead umbrella, auto, workers’ compensation, and environmental coverage, along with VGM’s specialised risk management services.
The partnership targets golf facilities of all types and sizes, including public, private and semi-private golf courses and country clubs as well as daily fee courses and golf management companies. Sompo GRS will individually underwrite each account.
“We are very pleased to collaborate with VGM to provide the golf industry with an additional point of access to Sompo International’s insurance products and risk control and claims expertise,” said Michael Chang, CEO of Sompo GRS.
“Our shared commitment to understanding our clients’ business strengthens our ability to address the unique risk management needs of golf clubs and country clubs across the United States,” he added.
Mike Kloos, President of VGM, also commented: “For decades, VGM has connected golf club owners and managers with leading suppliers of products and services needed to run their business.
“We are excited to partner with Sompo GRS to enhance the specialized risk management products and expertise we offer to our golf industry clients and VGM Club members.”
Sompo GRS offers comprehensive multi-line capabilities targeted to accounts in select industry verticals including hospitality, real estate, life sciences, financial institutions and professional services, in addition to Japanese and South Korean companies with operations in the U.S. and Mexico.
Based in Bermuda, VGM works through a network of retail agents and brokers to help club owners and managers reduce costs, address operational concerns and manage risks.
