Sompo International Holdings has announced that Sompo Global Risk Solutions (GRS) will offer protection for epidemic and pandemic risk.
The new Sompo GRS Epidemic and Pandemic Protection Program provides insurance based on a number of available pre-set coverage options including loss of income, extra expense, debt servicing, supply chain disruption and other fixed costs.
In its first year, the program will have limited capacity, and will only be available to Sompo GRS clients and their captives in the real estate, hospitality, financial services, professional services, technology and life sciences industries, as well as the unit’s Asian-interest accounts.
Michael Chang, CEO of Sompo Global Risk Solutions, commented: “At Sompo Global Risk Solutions, we are committed to listening to our customers so we can bring them innovative risk management solutions to meet their specific needs.
“Our new epidemic and pandemic protection program combines the advantages of a parametric structure with traditional insurance to help our clients address the impacts of these unpredictable emerging exposures on their bottom lines.”