30 July 2019Analysis

Captive teams up with Sompo to expand insurance coverage for golf courses

Sompo Global Risk Solutions (SGRS) has entered into a strategic partnership with VGM Insurance and Financial Solutions (VGM) to offer its insurance products and services to golf courses and country clubs in the US.

VGM is a Bermuda-based captive holding company providing specialty insurance programs for a variety of niche industries. It is the exclusive insurance and financial provider for VGM Club, providing discounted purchasing opportunities to member golf clubs and facilities in key areas including agronomy, clubhouse and food and beverage.

SGRS, a division of Sompo International Holdings, the specialty provider of property and casualty insurance and reinsurance, is offering insurance 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.

SGRS 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 US and Mexico.

Mike Kloos, president of VGM, said: “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 SGRS to enhance the specialised risk management products and expertise we offer to our golf industry clients and VGM Club members.”