PRODUCTS
We Evaluate the Needs of Each Industry Separately
We take a constructive view and are considerably more creative in our approach, using both capital and traditional markets. By evaluating your specific needs, we tailor-make the most appropriate product and customize it to fit efficiently into your portfolio.
Our Team believes in building long-lasting relationships based upon a thorough understanding of the needs of our clients, helping them grow surplus and policy count while understanding their reinsurance coverage.
Reinsurance coverage (But not limited to) can be arranged on a treaty proportional or non-proportional basis for all the following business industries.
Reinsurance coverage (But not limited to) can be arranged on a treaty proportional or non-proportional basis for all the following business industries.
Agriculture
Somerset Reinsurance Brokers adapt in an ever-changing world and respond to the daily needs of insurance companies for farms, and agri-businesses. Our brokers deliver innovative and viable reinsurance solutions while arranging coverages from traditional treaty reinsurance to proportional to aggregate stop loss depending on the needs of our clients.
With the Agriculture market changing with new opportunities from to Bloodstock, Livestock and one of our teams favourite the producing trees. We know at Somerset Reinsurance Brokers that the Federal System covers a lot of your requirements but as with all government run products there are gaps, which we are looking forward to help you resolve.
Auto
Somerset Reinsurance brokers have market access to many Regional and National Auto providers eager to increase their portfolio. It is essential to consider this platform to ensure your Mutual minimizes the gaps in their policy offerings. It also provides the ability to offer multi-line discounts and minimize the possibility of leakage from you loyal customer base.
Auto capabilities may be (And recommended) integrated with a careful exposure limit that grows as the Mutual's experience grows. Quota share is an option and it will support premium growth and enhance the spread of exposure.
With an effective Reinsurance plan, an Auto product may be another integral offering for sustained growth and loyalty. It will allow the local agents the ability to provide one stop shopping for their policy holder and move the Mutual's up the Agent's placement order.
Aviation
At Somerset, our brokering team understands aviation reinsurance is a specialized risk and accordingly requires specialized handling. Our aviation team is one of the most experienced in the market. Somerset partners with reinsurers around the world and understands the complexity of each unique market. We works tirelessly to find the aviation reinsurance solutions according to your needs and requirements.
Our team handles both proportional and non-proportional reinsurance, our coverage includes but not limited to;
Hull and liability
Airline
General aviation
Rotor wing operators
Unmanned aerial vehicles/drones
War Birds
FBO
Repair and service operations
Unmanned aerial vehicles/drones
Casualty
Somerset's expert casualty team has in-depth technical and global placement skills providing a wealth of experience, knowledge and outstanding commitment to our clients. Somerset believes in visiting our clients to build strong, long-term relationships. We committed to providing the highest levels of service and producing winning solutions for our clients.
Our team handles both proportional and non-proportional reinsurance, our coverage includes but not limited to;
Home Owners and Farm Owners Liability
Third Party Liability
Umbrella Liability
Renters/LandLords Liability
Third Party Liability
Umbrella Liability
Renters/LandLords Liability
Commercial
At Somerset, we know the that commercial business is an untapped opportunity for our Mutual partners. Within today's society, many current policy holders and future clients operate their own business within their residence or own a small business on top of their current job. Small commercial can be an additional class for many Mutuals. Somerset's Team of experienced and knowledgeable brokers will place coverage for you to help you grow this new line of business while limiting your exposure.
Somerset's brokering team will cultivate these relations with our reinsurers, who eager to support these ventures. Both the reinsurers and Somerset will listen to your needs, create a seamless transition, and support the success of the program. The Commercial cover will be at the Mutual's desired speed of conversion ensuring the exposure and risk is minimized and acceptable.
Our customized approach will ensure the new line of business doesn't negatively impact other areas of your portfolio. We believe at Somerset that ability of providing commercial coverage will enhance insured's ability to be competitive and advance them on the Agent's placement list.
Cyber
Somerset team of brokers can offer Cyber solutions for Home, Commercial, and Farm Owners. Much like Property, Casualty, and Auto coverage, Cyber is an ever-present need for all policyholders. Somerset will facilitate to ensure your team understand the many cyber concerns, breach of information, Identity Theft, Wire Fraud, Malware, Ransomware, Business interruption, Bullying, etc.
We will help you customize the insurance Cyber endorsement, to address the needs of your policyholders and agents.
Through this process, we will introduce you to viable options for this coverage. We will walk you through the rollout and education of this endorsement. Your agents will be provided with the necessary educational literature, marketing materials, and training to make it a successful implementation.
Endorsement
One way our excellent team of brokers provide value and support is by facility the ability to add a new line of business. For example, Auto, Commercial, Cyber, Flood, Weather or any additional line of insurance that your agents desires to write!
Somerset will work to understand your needs and your risk appetite, then find you the right market of reinsurers to help you grow to a bright future.
Marine
Somerset Resurance Brokers has over 60 years of experience with this product. This experience allows us a vast accessible pull of reinsurers and the ability to provide high quality service to our clients. Somerset engages with their clients and reinsurers from all over the world to offer creative reinsurance solutions for your most fundamental or complex needs.
Our team handles both proportional and non-proportional reinsurance, our coverage includes but not limited to;
Hull and Machinery
Protection and Indemnity
Cargo
Marine Liabilities
Inland Marine
Onshore and Offshore Energy
Special & Fine Art
War and Terrorism
Program Business
Somerset can offer whole sale agents access to the program market.
Our team has had great expertise in arranging program business from Health to Cyber. We are capable of working with all parties to develop a product that will support your company growth and provide new products to your clients.
What to know more, please contact us.
Property
Somerset Reinsurance Brokers is experienced in the US and global property risk and catastrophe sector.
The foundation of our success is our knowledge and our hands-on brokering style. This has lead to hard-won experience delivering creative solutions to complex property risk problems
Across North America, our property team works with mutual and insurance companies of all sizes. We strive to find the right reinsurance partners to evaluate the specific needs of our clients, to design and structure coverages appropriate to their business, sector and territory.
Across North America, our property team works with mutual and insurance companies of all sizes. We strive to find the right reinsurance partners to evaluate the specific needs of our clients, to design and structure coverages appropriate to their business, sector and territory.
This business approach grows surplus, policy count, educates our client's reinsurance knowledge and develops long-lasting relationships.
Our team handles both proportional and non-proportional reinsurance, our coverage includes but not limited to;
Our team handles both proportional and non-proportional reinsurance, our coverage includes but not limited to;
All risks of physical loss or damage
Named and non-named windstorm storm surge
Flood
Tsunami
Earthquake / shock
Named and non-named windstorm storm surge
Flood
Tsunami
Earthquake / shock
Machinery breakdown
Boiler explosion
Strikes, riots, malicious damage and civil commotion
Cyber
Damage by aircraft or ground vehicles
Strikes, riots, malicious damage and civil commotion
Cyber
Damage by aircraft or ground vehicles
Weather
In today’s environment there are many unique challenges arising from Weather patterns and events. Somerset Reinsurance broker’s extensive relationships and 60 years of experience equate to a valuable tool to offset these adverse conditions. Somerset can transfer Risk on a specific contractual need-basis to cap the exposure caused by extreme, rain, snow, temperature, or wind. For example, whether it is a local State Fair looking for coverage for rain out conditions, to an Airport planning coverage for a large snow season, or even a Ski Lodge wanted to offset losses because of lack of snow.
Somerset will find Reinsurance partners to transfer these weather-related risk events to minimize catastrophic experiences a client might incur. Our team is prompt and thorough with the claims process and focus on assisting with cash flow protection and loss coverage.