Sompo launches epidemic and pandemic risk coverage

Sompo International Holdings Ltd. said it is introducing epidemic and pandemic risk coverage.

The Bermuda-based specialty insurer said Thursday its Sompo GRS Epidemic and Pandemic Protection Program provides coverage based on available pre-set coverage options, including loss of income, extra expense, debt servicing, supply chain disruption and other fixed costs.

The statement said that in the program’s first year, limited capacity will be available to Sompo GRS clients and their captives in the real estate, hospitality, financial services, professional services, technology and life science industries, as well as the unit’s Asian-interest accounts.

A Sompo spokeswoman said in a statement the insurer is offering up to $25 million in limits, with coinsurance, deductibles and other elements varying slightly by the type of coverage purchased, and limited capacity available in the first year.

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