San Diego-based ICW Group, a group of insurers, announced a new program homeowner’s associations and multi-family condos that provides expanded coverage for buildings of wood frame construction built after 1975. The new difference in conditions (DIC) program is exclusively being offered through ICW Group’s member companies and is currently not available from other carriers.
The enhanced Condo/HOA program expands building definitions to include foundations, ground floor and subterranean parking, unit-owners’ permanent fixtures, and coverage for maintenance fees and association dues up to the requested limit. The program also provides automatic coverage for underground utilities, electronic and computer equipment, valuable papers and records, architectural and engineering costs, and additional security. Optional coverages are available for additional property and appurtenant structures, such as fences, gates and pools.
ICW Group has a capacity of up to $20 million in California Zone B and $30 million in all other areas, and is an admitted carrier in 50 states. ICW Group will consider deductibles of 5 percent in California and as low as 2 percent in all other states based on the risk characteristics. There are flexible program options.
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Privately held ICW Group represents a group of multi-line property and casualty insurance carriers. Member companies consist of Insurance Company of the West, Explorer Insurance Company and Independence Casualty and Surety.