Canopius, one of the world’s leading specialty reinsurers, has teamed up with Theodore Tunick and Marshall & Sterling to offer admitted auto coverage to personal and commercial insureds in the US Virgin Islands (USVI). The agreement is made with Samsung Fire and Marine Insurance (SFMI), and Canopius will underwrite risks for both commercial and private auto clients using SFMI admitted paper. This is indeed good news for the USVI, where consumers can enjoy greater coverage options from a reliable insurer.
Canopius will underwrite risks for commercial and private auto clients using Samsung Fire and Marine Insurance (SFMI) admitted paper
Canopius has agreed to underwrite risks for commercial and private auto clients in the US Virgin Islands using SFMI admitted paper for the first time. This move is expected to increase the options available to consumers in the region and provide them with stronger coverage support. The partnership will use SFMI’s admitted paper to provide higher-quality coverage, which is a noteworthy step for the insurer to expand its reach to the US market.
Previously, Canopius used Lloyd’s of London admitted paper for USVI auto coverage until Lloyd’s relinquished its licenses
Canopius had been using Lloyd’s of London admitted paper to offer USVI auto coverage until Lloyd’s announced its decision to relinquish its admitted licenses in several states, including the US Virgin Islands, in January 2021. Canopius has built a considerable history with the leading USVI insurance retailers Theodore Tunick and Marshall & Sterling. The company has been writing auto physical damage and liability policies for commercial and private passengers under the partnership since 2007.
Canopius has a substantial history of writing auto coverage for Theodore Tunick and Marshall & Sterling in the USVI
Canopius has maintained a strong relationship with Theodore Tunick and Marshall & Sterling for the last 14 years. The partnership has resulted in high-quality auto coverage for commercial and private clients in the US Virgin Islands (USVI). With Canopius now underwriting risks for both commercial and private auto clients in the USVI using SFMI admitted paper, the partnership is expected to reach greater heights and play a significant role in the USVI insurance industry.
Lisa Davis, Chief Executive for the US and Bermuda at Canopius, has commented on the new agreement with SFMI
Speaking about the new agreement, Lisa Davis, Chief Executive for the US and Bermuda at Canopius, stated, “Our new agreement with SFMI comes at the right time and will considerably drive Canopius’s expansion in the US Virgin Islands. We are delighted to work with Theodore Tunick and Marshall & Sterling again to provide the highest quality coverage to USVI commercial and private auto clients.”
Mark Robertson, President at Theodore Tunick, highlights the vital role played by Canopius, Theodore Tunick and Marshall & Sterling in the USVI
Mark Robertson, President at Theodore Tunick, is confident that the partnership between Canopius and Theodore Tunick and Marshall & Sterling is set to play a vital role in the US Virgin Islands. He said, “Canopius and Theodore Tunick and Marshall & Sterling are now positioned to play a vital role in the U.S. Virgin Islands. We are pleased that this collaboration will further deepen our partnership and drive strong growth for our businesses in the USVI.”
The agreement is an important step in Canopius’s ongoing partnership with SFMI and its implementation in USVI
This agreement is an important step in Canopius’s ongoing partnership with Samsung Fire and Marine Insurance (SFMI), which is a minority shareholder in Canopius. The partnership will also help SFMI expand its presence in the USVI insurance market, where it can offer consumers the benefit of its industry expertise and insights.
Canopius partnered with Falvey Insurance Group (FIG) to offer inland marine coverage in the US earlier this year
Canopius partnered with Falvey Insurance Group (FIG) earlier this year to provide inland marine coverage. This agreement allowed Canopius to tap into FIG’s expertise in the inland marine sector, which is a highly specialized area of insurance coverage. With the addition of the USVI auto coverage, Canopius is continuing to expand its presence in the US insurance market while providing comprehensive coverage to consumers.
Canopius, Theodore Tunick, and Marshall & Sterling are collaborating to offer admitted auto coverage in the US Virgin Islands
The collaboration between Canopius, Theodore Tunick, and Marshall & Sterling will offer admitted auto coverage to personal and commercial insureds in the US Virgin Islands. This agreement is expected to provide consumers with stronger coverage options and greater peace of mind when it comes to protecting their vehicles. With Canopius’s history of providing quality coverage and the expertise of its partner companies, the USVI insurance market is set to receive a significant boost.
The agreement is expected to drive strong growth for Canopius and its partner companies in the US Virgin Islands (USVI). Canopius has a substantial history in the region, and with its extensive industry expertise, the company is well-positioned to provide exceptional coverage to its consumers. With the addition of SFMI’s admitted paper and the collaboration with Theodore Tunick and Marshall & Sterling, the partnership is expected to offer more coverage options and drive organic growth in the USVI insurance market.