Specialist captive insurance and reinsurance managing general underwriter I-RE has added commercial property as a new line of business to its RE-PAID product offering. In partnership with Fortegra Group, a global specialty insurer, this offers an industry-first A-rated, mid-market captive solution for commercial property. RE-PAID allows mid-market business owners to take a share of their own risks in a standalone captive insurance company, rather than entering a group captive arrangement. I-RE previously collaborated with Fortegra on strategic capacity for general liability within the RE-PAID offering. Commenting on the new line of business, Andy Jeckells, co-chief executive of I-RE, says: “The RE-PAID product continues to break new ground. I-RE has committed itself to providing solutions that give high-performing, mid-market businesses more control over their risks and a share in the underwriting profits of the kind that only large captives currently enjoy. “We are seeing exceptional demand for RE-PAID from brokers, who see the benefit of offering their clients across the United States the solution they have been looking for while improving their own revenues and increasing client retention.” Kyle Selvig, director of commercial underwriting at Fortegra, adds: “We are excited to extend our partnership with I-RE to further support its truly innovative RE-PAID product and help fulfill the long-underserved need of mid-market businesses for a captive property insurance solution.”
