HCI Group expands US flood insurance offering

Florida-based homeowners' insurer HCI Group has announced its plan to expand its flood insurance operations into nine additional states in the US.

Currently, the company offers flood insurance solely in Florida. It will now rollout the offering in Arkansas, California, Maryland, North Carolina, New Jersey, Ohio, Pennsylvania, South Carolina, and Texas.

"A core part of our long-term strategic plan has been—and continues to be—expanding and diversifying our operations geographically," said Paresh Patel, HCI Group’s chairman and CEO. "We believe expansion into additional markets will leverage our proven business mode, as well as our internally developed technology.

"Our online platform for quoting and binding flood insurance policies—accessible from any internet capable device, including a mobile phone—provides a quote in seconds, a policy in minutes. We are changing the way people buy insurance."

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