ICAT launches California earthquake product

ICAT, a leading provider of property insurance to businesses and residences in hurricane and earthquake exposed regions of the United States, has launched an earthquake homeowner insurance product in California.

The product will insure dwellings for up to $2.5 million in coverage, provide up to $100,000 of loss of use coverage, offer enhanced coverage for personal valuables and pools, and provide deductible options as low as 5 percent.

Claims will be handled by ICAT’s sister company, Boulder Claims.

“I am pleased to announce the launch of our new Earthquake Homeowner insurance coverage for residents in California,” said Gregory Butler, president of ICAT. “This product has been developed in response to the genuine need Californians have for flexible and comprehensive protection against damage to their property and possessions from earthquakes.”

Tom Mercer, ICAT regional executive officer, said: “ICAT now provides agents an attractive residential quake market that we expect to compete very well against other providers of earthquake homeowner coverage. Whether consumers purchase the ICAT earthquake product or coverage from one of our competitors, California homeowners and their agents should be aware of their earthquake risk and options to protect their biggest asset.”