22 June 2017Insurance

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."

Save 20% on selected tickets at  Intelligent InsurTECH Europe 2017 with the discount code "Save20"

Today’s stories

XL Catlin bolsters marine underwriting team in Latin America

JLT Re boosts Bermuda operation with Chubb Tempest Re hire

Alliant appoints CFO of new specialty group

Aviva appoints new executive board member

XL Catlin promotes E&S property regional leader in Boston

Did you enjoy reading this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk

More on this story

22 June 2017   The House Financial Services Committee has passed several measures to reform and reauthorise the National Flood Insurance Program (NFIP), which is set to expire on September, 30, 2017.
20 July 2017   The number of companies writing flood insurance in Florida has doubled from 10 to 20 firms in the past year, mainly thanks to the use of new technology to better predict and price flood risk, according to a report by Lisa Miller & Associates.
19 September 2017   Homeowners’ re/insurance provider HCI Group said on Sept. 19 that its unit Homeowners Choice Property & Casualty Insurance Company received regulatory approval to write flood insurance in Texas.