Integrated Specialty Coverages (ISC), a multi-line program administrator that builds end-to-end insurance products with artificial intelligence (AI) engineering and data analytics, has launched its Vacant Property Program (VPP), designed to address the increasing number of vacant residential and commercial properties across the U.S.
The new VPP program targets both properties and vacant land, including residential and commercial buildings, as well as buildings under renovation. It will be led by Gareth Jelley, senior vice president of the Property Division at ISC, and is backed by an “A” rated, non-admitted carrier that can write property and liability policies over alternate periods, including three-, six- and twelve-month terms.
The VPP can provide up to $2 million total insurable value (TIV) for any one location, as well as general liability limits of $1 million occurrence/$2 million aggregate, with no cost for additional insured endorsements. It can also be accessible in basic, broad and special form, and insures against a variety of exposures such as theft, water damage and other weather-related damages, including the threat of wind damage in Tier 1 coastal regions.
Matthew Grossberg, CEO of Integrated Specialty Coverages, said VPP is ISC’s second property-focused program in the past year and it plans to roll out new products and offerings across the property space and other verticals.
The program is exclusively available to ISC and SIS Insure and will soon be available through ISC’s online MGA platform. Interested parties can apply through ISC or Safebuilt Insurance Services’ websites.
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