Underwriter I-RE has increased its commercial property insurance limit to $15m from $5m on its RE-PAID product, while also facilitating additional capacity to reach the ultimate limit required.
I-RE, which is based out of London, Bermuda and Miami, works with US captive managers and brokers to underwrite risks of mid market business with the use of captive strategies.
Captive Intelligence reported in October that I-RE had partnered with captive manager MIJS to allow the latter’s “high performing” mid-market clients to take on some of their own risk in a standalone captive.
Andy Jeckells, co-founder and co-CEO of I–RE, said: “Many mid-market businesses, especially those with significant assets or complex operations, require higher limits to adequately protect them.
“Increasing our commercial property limit up to $15 million, and facilitating the placement of excess limits above this, is providing brokers with a compelling option where their clients can take a share of their own risk and reap the reward.
“We’re looking forward to the opportunities this current evolution of RE–PAID offers to our broker partners and their clients.”
Jeckells featured on episode 96 of the Global Captive Podcast in November 2023, discussing I-RE’s role as specialist underwriters and his on the captive landscape more broadly for the US middle market.