WTW, a global leader in insurance broking, and advisory services, has partnered with Canopius US Insurance, Inc. and Verita Capital Solutions to launch a new property insurance facility.
Known as the Client Edge Facility, the new offering aims to provide tailored insurance solutions for a range of property risks, according to InsurTech Insights.
The introduction of the product comes as part of WTW’s strategy to enhance its service offerings and meet the growing demand for robust property insurance solutions.
By collaborating with Canopius and Verita Capital Solutions, WTW seeks to address the needs of large and complex risks as well as middle-market property risks through this innovative insurance facility.
The Client Edge Facility is underwritten by Canopius on its U.S. Excess & Surplus paper, providing additional property capacity with coverage limits of up to $25m.
It supports both shared and layered programmes within WTW’s U.S. property portfolio, catering to complex and middle-market risks.
The involvement of Verita Capital Solutions is expected to further expand the facility’s capacity and scope, potentially integrating other lines of business.
Lisa Davis, Chief Executive Officer, U.S. and Bermuda, Canopius, said, “Listening to the needs of clients was the driving force behind the development of Client Edge Facility, an innovative property solution. Being able to address evolving client demands in a nimble way such as this is core to how we do business. Leading this new property facility is the latest example of our rapidly expanding suite of capabilities in the U.S., serving as another proof point aligned with our ambitions for strategic growth. I am delighted to partner with WTW and Verita Capital Solutions to bring Client Edge Facility to market.”
Jackie Bolig, Head of Property & Casualty, CRB NA, WTW., also commented, “The development of Client Edge Facility was the result of extensive collaboration and commitment of WTW, Verita and Canopius to develop a new solution aimed at providing needed property capacity for clients, in an efficient manner. We are excited about expanding Client Edge Facility as the market demands.”
Edward Chiang, Chief Executive Officer, Verita CSG., added, “Managing this new facility represents a key milestone for the Verita Capital Solutions Division, highlighting our team’s expertise and the ability to pivot and execute on a large portfolio solution like Client Edge Facility. Verita will continue to introduce new, innovative insurance solutions to clients, brokers and capacity partners. I am pleased to partner with WTW and Canopius in launching Client Edge Facility.”
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