PriyaPatel
TLDR:
- SageSure has launched its first Expanded Markets surplus lines dwelling fire product in four states.
- The new product addresses the growing demand for fire dwelling coverage in coastal areas.
Key Elements of the Article:
SageSure, a managing general underwriter, has expanded its product portfolio with the launch of an Expanded Markets surplus lines dwelling fire insurance product in Louisiana, New Jersey, South Carolina, and Texas. This new product aims to cater to the increasing demand for fire dwelling coverage in coastal states, especially secondary, tenanted, and seasonal homes. With a significant percentage of housing units being renter-occupied, there is a clear need for expanded insurance options in these regions.
According to Dan Maloney, the Vice President of Expanded Markets at SageSure, the addition of the DP3 product to the Expanded Markets program demonstrates the company’s commitment to meeting demand in coastal states. The Expanded Markets program, launched in 2023, leverages third-party products to provide highly rated capacity with broader eligibility criteria in challenging markets.
Terrence McLean, the President and CEO of SageSure, expressed pride in the company’s ability to deliver products desired by producers and enhance the overall customer experience. The company looks forward to introducing Expanded Markets to more markets in the future.
Overall, SageSure’s expansion of its product portfolio to include surplus lines dwelling fire insurance in coastal states reflects its commitment to meeting the evolving insurance needs of customers in these regions and providing innovative solutions to producers.
