Normal underwriter for catastrophe-exposed markets SageSure has launched its first Expanded Markets surplus strains dwelling fireplace product.
The hearth product from SageSure can be revealed in Louisiana, New Jersey, South Carolina, and Texas.
This newest providing targets the elevated demand for fireplace dwelling merchandise in coastal states.
As well as, launched in 2023, the SageSure expanded markets programme utilises third-party merchandise to enhance the SageSure Signature product suite.
“The addition of the DP3 product to the SageSure Expanded Markets program demonstrates our dedication to figuring out and assembly demand in coastal states,” mentioned Dan Maloney, vp of expanded markets at SageSure.
“Dwelling fireplace merchandise are some of the requested by producers in our markets. We’re excited to supply this new answer to assist our companions develop their guide of enterprise and meet the wants of their purchasers.”
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“SageSure is proud to ship the merchandise our producers need to write and the expertise they deserve,” mentioned Terrence McLean, president and CEO of SageSure. “We stay up for introducing Expanded Markets to extra markets sooner or later.”
In April 2024, GeoVera Insurance coverage Holdings (GeoVera) reached a definitive settlement to mix its insurance coverage carriers into a brand new entity and promote its managing basic agent (MGA) enterprise.
The deal will see the formation of GeoVera Nova Holdings (GeoVera Nova), which is able to achieve management of 4 insurance coverage working subsidiaries.
These are GeoVera Insurance coverage, GeoVera Specialty Insurance coverage, Coastal Choose Insurance coverage, and SafePort Insurance coverage, a unit of SageSure.
SageSure, an unbiased MGA specialising in catastrophe-exposed markets, will purchase GeoVera’s MGA unit, GeoVera Benefit Insurance coverage Companies.
This transfer is anticipated to bolster SageSure’s underwriting capabilities in earthquake threat and fast-track its growth into new markets.
