Independent insurance agencies in Rhode Island have a new market for coastal homes – Spinnaker Insurance Company. Spinnaker’s New England distributor, Insurance Agency and Customer Service Company (IACSC) of New London, Conn., is offering selected agents appointments.
Founded last October, Spinnaker is rated A- (Excellent) by A.M. Best. It is fully licensed and admitted in Rhode Island and plans to expand into other New England states. Spinnaker aims to make it simple for agents to do business, said John Kittel, manager of IACSC, in a company press release. The agent’s website offers online rating and binding and works with agency systems and IVANS.
“Our production underwriters offer pricing flexibility for quality business,” he said. “We seek our trusted agent’s advice in adjusting pricing and underwriting to be competitive and profitable.”
Homes built since 1900 with dwelling limits of $150,000 to $800,000 are eligible without coastal restrictions. Primary and unsupported seasonal homes are eligible. A minimum $1,000 deductible is available even for hurricanes.
Credits include early-signing, new-home and newer-roof discounts. Most significant are discounts for mature homeowners and secondary homeowners who take seasonal safeguards to protect their homes. Loss-free experience and companion policy credits when the local agency writes the automobile policy are also available.
The Harbor Master endorsement includes special limits of liability, identity theft, water backup, refrigerated products, tree removal and more.
Kittel, who founded IACSC, is the former president of Harrington Insurance Agency, a statewide chain in Massachusetts. He has served as executive vice president of Arbella Insurance Group and founded the Covenant Group, an agency-based New England insurer. He has also held executive positions with Hanover Insurance, Middlesex Mutual Insurance Company and the Travelers.
Source: Spinnaker Insurance Company
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