HOUSTON, TX – September 20, 2022 – SURE, the member-owned insurance company for reliable coastal property protection, today announced its expansion into commercial insurance in Louisiana. Small and mid-sized Louisiana business owners can now bundle general liability and commercial property coverage with SURE’s business owners policy (BOP), which is underwritten, distributed, and serviced by SageSure.
SURE’s announcement follows the launch of its first commercial product in Texas earlier this year, further demonstrating its commitment to serving challenging property insurance markets. In the last year, eight property insurance companies in Louisiana have become insolvent because of excessive catastrophe losses and lack of adequate capital. At least 12 other companies have submitted withdrawal notices to leave the state.
By contrast, SURE’s strong surplus, robust reinsurance program, and financial outlook indicate exceptional financial stability and staying power. Additionally, the company’s 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.”
SageSure’s team underwrites a broad range of classes, including restaurants, retail and wholesale, offices, habitational, artisan contractors, and other services. In all, SURE’s BOP program has eligibility for more than 300 classes.
“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 offers coverage for a range of property loss events, liability for bodily injuries, liability for advertising injuries, loss of income caused by covered property events, and more. To learn more about SURE, visit sureins.com.
SURE is the member-owned insurance company for reliable coastal property protection. Founded in 2021, SURE is managed by a team of experienced and passionate insurance leaders who believe in building a safer world, one coastal property at a time. With more than 120,000 policyholders and more than $290 million in force premium to date, SURE has grown rapidly to meet the needs of challenging markets while prudently managing exposure. As the first Texas-domiciled reciprocal since 2004, SURE is customer-focused by design and offers homeowners, dwelling fire, flood, and commercial coverage through an exclusive partnership with SageSure. SURE is rated A, Exceptional, by Demotech, Inc. and is currently available in Alabama, Louisiana, Mississippi, South Carolina, and Texas. To learn more, visit sureins.com.
SageSure is an insurance first, tech-forward managing general underwriter specializing in coastal residential and commercial property markets. SageSure offers more than 50 competitively priced insurance products in 14 coastal states on behalf of its carrier partners, serves more than 400,000 policyholders, and has more than $910 million of in force premium. Since its launch in 2009, SageSure has been pioneering property insurance through its market-leading online quoting and binding platform and its sophisticated risk modeling and scoring technology. Over the last two years, more than 4,000 agency locations have written one or more policies with SageSure across the US to help customers protect their most important asset. For more information, visit sagesure.com.
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