Prospect General Insurance Agency has partnered with Fortegra Financial Corporation, a Tiptree Financial, Inc. company to offer an admitted tenant legal liability program that allows landlords to protect properties from tenant caused damage.
The program targets apartment buildings with five more units, as well as one to four unit buildings. All residential units in a covered building will be covered under the policy regardless of occupancy status.
Coverage includes the perils of fire, smoke, explosion, water and tenant induced sewer backup. Limits of $100,000 per occurrence/$200,000 in the general aggregate available per covered unit. All units and loss to personal property of affected tenants are covered if limit is available after addressing the actual physical damage.
The program initially targets California insureds but will expand into other geographies in the near future.
Prospect General Insurance Agency is a program administrator based in La Jolla, Calif., operating nationally and is a wholly owned subsidiary of Palomar Insurance Holdings.
Fortegra is the marketing name for the insurance, warranty solutions and specialty underwriting operations of Fortegra Financial Corporation and its subsidiaries, including its admitted insurance companies. Fortegra Financial Corporation, a Tiptree Inc. company, and its subsidiaries comprise a single-source insurance services provider that offers a range of consumer protection options including warranty solutions, credit insurance, and specialty underwriting inclusive of admitted market partnerships.
Topics New Markets
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