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.”
Heritage, North America, Randy Jones, Arlene Luis