Orchid Underwriters Agency, LLC, a specialty underwriter of excess & surplus insurance focusing on coastal properties, has launched admitted residential homeowners’ products through a new partnership with Spinnaker Insurance Co., a national property and casualty insurer.
Orchid will roll out its new admitted product line in Alabama in early March, and will strategically expand the rest of its footprint throughout 2017. The company said the admitted homeowners’ products through Spinnaker will offer coastal policyholders another alternative to the surplus lines market.
Orchid’s President, Brad Emmons, said the Spinnaker partnership and launch of the product in Alabama is the company’s first steps in a multi-state strategy of diversifying its product suite by adding admitted homeowner products to its proprietary platform.
Spinnaker and Orchid will start by introducing the new product to Orchid’s existing agent base.
Vero Beach, Fla.-based Orchid specializes in providing specialty insurance products for homeowners and small businesses throughout the United States and the Caribbean.
Spinnaker Insurance Company is a national property and casualty insurer providing coverage to policyholders in underserved insurance markets.
Topics Underwriting Alabama Homeowners
Was this article valuable?
Here are more articles you may enjoy.
Grand Jury Indicts ‘Hole in Won’ Owner on Prize Insurance Fraud Charges 
USAA to Lay Off 220 Employees 
California Sees Two More Property Insurers Withdraw From Market 
AIG Sues Newly Launched Dellwood Insurance and Its Founders 
