Digital insurance exchange Kin ups reinsurance cover 150%, adds 8 to panel
Digital homeowner insurer Kin increased its reinsurance coverage by 150% to what management claimed offered 160 year first-event loss protection, or $770 million in reinsurance coverage for hurricanes.
Kin brought 40 major reinsurers on board for the 2022 renewals, an addition of eight from the prior-year panel. The 2022 renewal follows word of Kin’s inaugural catastrophe bond.
“Despite a homeowners insurance market that has continued to harden, we’ve successfully completed our reinsurance program,” Kin’s chief insurance officer Angel Conlin (pictured) said, citing “strong relationships with our reinsurance partners.”
Reinsurance is contracted by the Kin Interinsurance Network (KIN), a reciprocal exchange for homeowners, landlord, condo, and mobile home insurance which is owned by its customers who share in the underwriting profit.
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