vQuip, a provider of safety, risk management, and insurance solutions for the rental and recreational industries, has announced a partnership with BRP, a firm specializing in powersports and marine products.
The collaboration aims to tackle insurance challenges faced by powersports dealers, adventure tour operators, and their customers, with a focus on closing the coverage gap and improving access to affordable insurance for businesses and riders involved in powersports activities.
Cam Serigne, founder and CEO of vQuip, noted the significance of the partnership, emphasizing BRP’s understanding of the unique insurance needs within its dealer and tour operator networks.
"This partnership enables us to create even more refined products tailored specifically to this market. Our solutions will not only offer powersports providers a strong alternative but also present opportunities for businesses and the entire industry to grow safely,” Seigne said.
The powersports market has seen notable growth in recent years, as more people seek outdoor adventure experiences. However, the specialty insurance sector has struggled to keep pace, resulting in a gap in coverage and a demand for tailored insurance solutions that provide comprehensive protection for both businesses and riders.
The partnership with BRP aligns with vQuip’s recent expansion into the powersports and adventure market. The company plans to leverage its loss control and insurance program structuring capabilities to address capacity and risk management issues within the specialty risk classes associated with the industry.
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