Heritage Insurance Holdings Inc., a property/casualty insurance holding company in Clearwater, Florida, announced that its subsidiary Heritage Property & Casualty Company (Heritage P&C) was approved to write property/casualty insurance in North Carolina by the North Carolina Department of Insurance.
In addition to Florida, this is the second state in the U.S. where Heritage P&C is authorized as an admitted carrier.
Along with North Carolina, Heritage P&C has recently submitted applications to South Carolina, Massachusetts and Rhode Island. Heritage said it is in varying stages of discussion with other state insurance regulatory authorities regarding its applications and desire to write insurance in these new markets.
“The license in North Carolina marks the beginning of our multi-state expansion. We are excited to serve this new market with competitive products to meet the needs of policyholders. We believe North Carolina presents a great opportunity for future growth and we look forward to building market share in the state,” said Bruce Lucas, Heritage Insurance Holdings chairman and chief executive officer.
Heritage P&C writes over $500 million of personal and commercial residential premium.
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