New independent managing general agent, SUM Insurance, offering casualty insurance products to the Canadian market

SUM Insurance, an independent managing general agent formed by Travis Budd, Rick DeGrace, Stan Lam, Serge Melanson and Jeff Somerville, is now serving Canada coast-to-coast with offices in Toronto and Montreal.Formed in March 2011, Strategic Underwriting Managers Inc. (SUM Insurance and/or Gestionnaires d’Assurances) works collaboratively with insurers and reinsurers to design, underwrite and deliver casualty insurance products to insurance brokers. The firm’s first offerings are in commercial general liability, professional liability and umbrella/excess liability, along with supporting first-party covers. The company says its product suite will soon be bolstered with environmental impairment liability and other niche-oriented casualty products. “The flow of capacity to Canada is testament to the opportunity this marketplace holds,” SUM Insurance president Jeff Somerville said in a press release. “SUM Insurance is not adding capacity to the market. Rather we seek to optimize underwriting by bringing expertise to capacity and service to opportunity. “Emphasizing independence, entrepreneurialism and a long- term view to decision-making, we are excited to be working collaboratively with all facets of the insurance community to create and deliver value to our customers.”