Orchid Underwriters Agency, Inc. in Vero Beach, Fla. has been granted exclusive access to a new residential underwriting program underwritten through icat.
The icat homeowners program is written on Lloyds paper and is rated A (Excellent) by AM Best. Standard policy forms are available, including HO3, HO5, and DP3. It is available in Mass., N.Y., N.J., Conn. and R.I.
Other policy features include:
- Total insured value limits up to $5, million per policy with the ability to write higher limits,
- Significant discounts for wind mitigation apply.
- Named storm windstorm deductibles ranging from 2 percent to 25 percent.
- Mold coverage option to $25,000; water back-up option to $25,000; extended replacement cost coverage option; blanket personal articles floater options up to $50,000; loss assessment option; and increased ordinance law coverage of 25%.
Risks can be submitted directly to Orchid through its PolicyPlus system. If the program is eligible for icat, it will automatically be quoted.
Was this article valuable?
Here are more articles you may enjoy.
Florida Engineers: Winds Under 110 mph Simply Do Not Damage Concrete Tiles 
How One Fla. Insurance Agent Allegedly Used Another’s License to Swipe Commissions 
Portugal Deadly Floods Force Evacuations, Collapse Main Highway 
AIG Underwriting Income Up 48% in Q4 on North America Commercial 
