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Schinnerer unveils property insurance coverage

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The Schinnerer Group is introducing a new insurance program through Marsh L.L.C. that will cover up to 10% of an insured’s property insurance program with up to $200 million in limits per program.

Chevy Chase, Maryland-based Schinnerer said in a statement Friday through Victor O. Schinnerer & Co. Inc., its underwriting manager of specialty insurance programs, that Alternus is the first dedicated commercial insurance solution for retail clients backed by alternative program.

Protection includes natural and manmade perils, Schinnerer said.

The program is underwritten and managed by Schinnerer and backed by a combination of Allianz Global Corporate & Specialty S.E., a unit of the Munich-based Allianz S.E., and alternative capital through asset manager Hamilton, Bermuda-based Nephila Capital Ltd., said the statement.