SURE expands commercial insurance into Louisiana

SURE expands commercial insurance into Louisiana | Insurance Business America

SURE expands commercial insurance into Louisiana

SURE, a member-owned insurance company that specializes in coastal property protection, has announced its expansion into commercial insurance in Louisiana.

Small and mid-sized business owners in the state can now bundle general liability and commercial property coverage with SURE’s business owners policy, which is underwritten, distributed and serviced by SageSure. The announcement follows the launch of SURE’s first commercial product in Texas earlier this year.

In the last year, eight property insurance companies in Louisiana have become insolvent due to excessive catastrophe losses and a lack of adequate capital. At least 112 other companies have submitted withdrawal notices to leave the state.

In contrast, SURE said it had a strong surplus, a robust reinsurance program and a strong financial outlook. In addition, its underwriting partner SageSure is the leading property insurance MGU focused on catastrophe risks.

“Challenging markets deserve innovative solutions backed by a track record of strong results,” said Ed Konar, president of SURE. “We are excited to partner with SageSure to be a long-term source of reliable coverage for Louisiana entrepreneurs and their growing businesses.”

Read next: SageSure launches commercial insurance line in coastal areas

SageSure underwrites a broad spectrum of classes, including restaurants, retail and wholesale, offices, habitational, artisan contractors, and other services. In total, more than 300 classes are eligible for SURE’s BOP program.

“Our team specializes in commercial risk across numerous classes to ensure broad appetite, tailored coverage, and competitive pricing,” said Victor dos Santos, president of commercial insurance at SageSure. “Our agent portal offers a best-in-class online quoting and binding experience that streamlines securing necessary protection for Louisiana business owners.”

SURE’s BOP program offers coverage for a range of property loss events, liability for bodily injuries, liability for advertising injuries, loss of income covered by property events, and more.