SageSure, a managing general underwriter focused on catastrophe-exposed markets, has launched its first Expanded Markets surplus lines dwelling fire product in Louisiana, New Jersey, South Carolina, and Texas.
The new product aims to address the growing demand for fire dwelling coverage in coastal states, where there is a significant market for secondary, tenanted, and seasonal home insurance.
With over 34.8 percent of housing units renter-occupied according to the latest US Census figures, and even higher concentrations in coastal areas, there is a clear need for expanded insurance options in these regions.
SageSure is known for its commitment to identifying and meeting demand in coastal states, and the addition of the DP3 product to the Expanded Markets program is a testament to this dedication.
According to Dan Maloney, Vice President of Expanded Markets at SageSure, “The addition of the DP3 product to the SageSure Expanded Markets program demonstrates our commitment to identifying and meeting demand in coastal states. Dwelling fire products are one of the most requested by producers in our markets. We are excited to offer this new solution to help our partners grow their book of business and meet the needs of their clients.”
The Expanded Markets program, launched in 2023, leverages third-party products to complement the SageSure Signature product suite. It provides access to highly rated capacity with broader eligibility criteria in some of the most challenging markets in the US.
Terrence McLean, President and CEO of SageSure, expressed pride in the company’s ability to deliver products desired by producers and the overall customer experience. He stated, “SageSure is proud to deliver the products our producers want to write and the experience they deserve. We look forward to introducing Expanded Markets to more markets in the future.”
Copyright © 2024 InsurTech Analyst
