Heritage Insurance has launched its new insurance programme for commercial residential properties in Florida.
The new line will be written by Heritage's wholly-owned subsidiary, Heritage Property & Casualty Insurance Company.
The commercial division is led by a team including Randy Jones, president, and Arlene Luis, executive vice president. Jones and Luis have over 30 years of combined experience in the Florida market and worked at American Capital Assurance prior to joining Heritage.
Jones said: "In talking with our agent partners, we found there is a very limited market for these properties. Because of their size and overall complexity, many of these properties may not qualify under the typical eligibility guidelines established by other companies. We heard their concerns and responded enthusiastically to help fill a void in this market segment."
The new commercial residential line will offer coverage for condominium associations, homeowner associations, continuing care retirement communities, and apartment complexes.
Bruce Lucas, chairman and chief executive officer of Heritage, said: "We are excited about the commercial residential line of business. We believe there is an excellent opportunity to grow this business and it will diversify our robust suite of product offerings.”
To continue reading, you need a subscription to Intelligent Insurer. Start a subscription today for £655.
In-house feature articles, the archive and expert comment require a paid subscription. Subscribe now.
Want to give it a try? We are offering a two week free trial to the Intelligent Insurer website – register and select “Two Week Free Trial” to begin access to the full Intelligent Insurer archive and read the latest news, features and expert comment. Begin your free trial here.
Is your 2 week free trial about to end? Upgrade to a 12 month subscription for £655 now.
If you have already subscribed please login.
If you have any technical issues please contact support.
Heritage, North America, Randy Jones, Arlene Luis