Acadian to underwrite for Spinnaker in Louisiana

Acadian Managers, a general insurance agency, has entered into an agreement with Spinnaker Insurance Company to underwrite and market Spinnaker’s homeowners and swelling fire products in Louisiana.

Spinnaker will be Acadian’s exclusive insurance carrier rated A- or better by AM Best for Louisiana business.

After Hurricanes Katrina and Rita struck Louisiana in 2005, many highly rated carriers withdrew from or significantly reduced their writings in the state. Acadian was formed to bring higher quality paper back to the market.

Acadian, based in Louisiana, plans to begin offering Spinnaker products in the voluntary market in the early fall and will work with Spinnaker during the next round of Louisiana Citizens Depopulation.

Last year, Acadian entered into a similar agreement with Ocean Harbor Casualty Insurance Company.

“We are delighted to make Spinnaker’s products available to Louisiana agents and consumers,” said Mike Toffoli, Acadian’s president.”This agreement represents a significant step in the recovery of the Louisiana property insurance market.”