SiriusPoint and Irwin Siegel Agency Join Forces to Launch Innovative Casualty and Excess Coverage for Social Services
SiriusPoint, a prominent global specialty insurer and reinsurer, has recently announced an exciting new strategic collaboration with the Irwin Siegel Agency (ISA). This partnership aims to launch a specialized Casualty and Excess insurance programme focused on providing tailored insurance and risk management solutions for organizations in the human and social services sectors.
Overview of the New Casualty and Excess Programme
The newly introduced programme will be accessible exclusively through wholesale distribution, ensuring that organizations can obtain the necessary coverage tailored to their unique needs. This collaboration leverages ISA’s extensive experience in underwriting Property and Casualty insurance over nearly six decades, particularly for providers serving vulnerable communities.
Expertise of Irwin Siegel Agency
ISA specializes in various services, including:
- Developmental disabilities
- Addiction treatment
- Mental health care
- Youth programmes
Operating under Ryan Specialty Underwriting Managers, ISA has established a solid reputation for its expertise in niche human services markets.
SiriusPoint’s Contribution
SiriusPoint enhances this partnership with its global underwriting capabilities and risk-bearing capital. Renowned for its innovative approach in supporting Managing General Agents (MGAs), SiriusPoint’s involvement will enable ISA to expand its reach and improve efficiency in providing coverage to underserved sectors.
Bridging Market Gaps
This collaboration is set to address existing market gaps by offering specialized insurance products for various organizations, including:
- Community action agencies
- Emergency shelters
- Job training centers
- Outreach programmes
By concentrating on areas with high demand for tailored risk solutions, both SiriusPoint and ISA aim to enhance their impact across the social services ecosystem.
Statements from Leadership
Patrick Charles, the Head of North America Insurance at SiriusPoint, expressed enthusiasm for the new initiative, stating, “The launch of a new Casualty and Excess program will not only deliver innovative insurance and risk management solutions to a gap in the market but will fill a distinct need in the human and social services space. We look forward to a successful collaboration with ISA.”
Shawn Yingling, CEO of Ryan Specialty National Programs, also shared his excitement, noting, “We are excited to collaborate with SiriusPoint to launch this new strategic initiative. SiriusPoint has a notable reputation for individualized support in the MGA space, providing specialist expertise and paper to service niche sectors. They are an optimal trading partner. This new initiative will enhance our ability to remain focused on our primary goal: to provide innovative insurance and risk management solutions to those serving our society’s most vulnerable.”
For more information on SiriusPoint’s initiatives, visit their official website. Additionally, learn more about the services provided by the Irwin Siegel Agency by visiting ISA’s website.
