I–RE, the specialist captive insurance and reinsurance MGU, is adding commercial property as a new line of business to its innovative RE–PAID product, effective from July 1st 2022.
Having earlier launched a strategic capacity partnership with Fortegra for general liability, the company said that the addition of commercial property is another exciting step forward for it, which sits alongside its workers’ compensation and commercial auto offering.
In a statement I-RE said that commercial property is “another genuine world-first for the RE–PAID product, which is unique in its ability to allow high-performing mid-market business owners to take a share of their own risks in their own stand-alone captive insurance company”.
According to the company until now, for the commercial property line of business, there has been no viable A rated mid-market captive solution available. Not even group captives have been able to provide property as an option. Working with Fortegra, I–RE has now made it possible.
Andy Jeckells, co-chief executive of I–RE said: “The RE–PAID product continues to break new ground. I–RE has committed itself to providing solutions that give high-performing, mid-market businesses more control over their risks and a share in the underwriting profits of the kind that only large captives currently enjoy.
“We are seeing exceptional demand for RE–PAID from brokers, who see the benefit of offering their clients across the United States the solution they’ve been looking for whilst improving their own revenues and increasing client retention.”
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