USI Launches New Flex Property Facility for Commercial Risk Clients
USI Insurance Services has launched a new Flex Property Facility, enhancing options for commercial risk clients with diverse property placements.
This latest offering from USI, a renowned global insurance brokerage and consulting firm, brings substantial property insurance capacity with a variety of enhanced features. The facility allows access to diverse coverage options, including flood, earthquake, named storm, equipment breakdown, and terrorism. This flexibility is particularly critical as the property insurance market faces increasing unpredictability. Supported by Innovation Growth Partners Specialty (IGP Specialty), USI's Flex Property Facility provides up to $50 million in property capacity for a single risk, complementing their existing excess property solutions.
Key Features and Strategic Goals
The introduction of this facility underscores USI’s strategic commitment to innovation and client-focused coverage. Jeff Buyze, USI’s National Property Practice Leader, highlighted the flexibility and capacity that the new facility offers to various organizations. Complementing this, David Nikolai, President of Programs at IGP Specialty, emphasized the initiative’s role in enhancing client satisfaction while upholding high service standards. Chairman and CEO Mike Sicard expressed enthusiasm about expanding their product offerings, reinforcing USI's reputation for innovative, customer-driven solutions.
USI and IGP Specialty: Industry Leaders
USI Insurance Services, with headquarters in Valhalla, New York, ranks among the largest global insurance brokerages. The firm offers an extensive range of services across property and casualty insurance, employee benefits, and personal risk management. Employing over 10,500 professionals in approximately 200 offices, USI leverages its USI ONE Advantage® platform to deliver tailored solutions on multiple levels.
| USI Features | IGP Specialty Highlights |
|---|---|
| Global brokerage services with local expertise |
Specialty programs managing $1.6 billion in premiums |
| Innovation-driven solutions across varied industries |
Offices in 18 states, nearly 700 professionals |
IGP Specialty, functioning under the USI umbrella, manages specialty insurance programs worth over $1.6 billion in premiums, with a significant presence across 18 states. With nearly 700 professionals, IGP Specialty continues to expand its footprint and service capabilities nationwide.
"The new Flex Property Facility enables us to leverage significant capacity and provide adaptable coverage solutions to organizations across the country."
As the insurance landscape becomes more challenging, initiatives like the Flex Property Facility highlight USI's dedication to providing effective solutions and maintaining market leadership. Insurance professionals and industry stakeholders should closely watch how USI continues innovating within the commercial property insurance sector, potentially setting new standards for capacity and flexibility.