Resolute Global Partners, Gallagher Re, and Karen Clark & Company launch a new type of reinsurance contract
David Gyung/iStock via Getty Images
- Resolute Global Partners launches Footprint, a type of reinsurance contract, created in collaboration with global reinsurance broker Gallagher Re and catastrophe modeling firm Karen Clark & Company.
- Gallagher Re is part of Gallagher (NYSE:AJG), the global brokerage, risk management and consulting services firm headquartered in Rolling Meadows, Illinois
- Footprint can be used for any type of catastrophic event, from severe convective storms and wildfires to hurricanes and earthquakes.
- Doug May, President, Gallagher Re North America, said, "We are pleased to have advised Resolute Global on this innovative reinsurance contract. In this challenging marketplace, we believe this new product will help expand the sources of capacity for our clients."