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Swiss Re's IRI Offers Lead Umbrella Coverage in the US Market

Source: Swiss Re

Posted on 09 Jun 2009

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Swiss Re announced today it's offering Lead Umbrella coverage to retail brokers and risk managers in the United States. Customers working with Swiss Re receive customized solutions backed by net capacity that is rated among the highest in the industry. Lead Umbrella coverage from Swiss Re's Industrial Risk Insurer (IRI) is available on an admitted basis in 46 states and underwritten by North American Elite Insurance Company, a member of the Swiss Re Group.

“We’ve introduced our Lead Umbrella product in order to directly respond to demands from our customers and the marketplace,“ said Daniel Vetter, Head of North America Casualty for Swiss Re’s insurance operation. “Swiss Re’s underwriting expertise and experience with large corporate accounts enables us to partner with clients and provide tailored solutions to fit their requirements for catastrophic coverage.”

Lead Umbrella policies from Swiss Re provide worldwide coverage under a stand-alone agreement with a minimum premium of USD 250,000. Swiss Re utilizes strong industry expertise and technical underwriting capabilities to provide the optimum coverage to meet each client’s risk management needs. Clients also have the potential to receive additional capacity from Swiss Re on an excess basis.

Focus industries for Swiss Re’s Lead Umbrella offering include manufacturing, industrial conglomerates, real estate, the service industry, wholesale trade and retail. A highly-talented claims department, with extensive experience handling catastrophic liability claims, supports the Lead Umbrella product offering.