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.
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