Heritage Insurance Holdings, Inc., announced that its wholly-owned subsidiary, Heritage Property & Casualty Insurance Company, assumed over 2,000 commercial residential policies on October 14, 2014 from Citizens Insurance. The assumed policies represent over $80 million in gross written premium.
The Commercial Division is led by an experienced management team, including Randy Jones, president, and Arlene Luis, executive vice president.
Heritage purchases hurricane reinsurance on a multi-year basis and retains $1 million per structure for all other peril losses, such as fire and sinkhole.
Jones said the company has over $120 million in surplus and is debt and quota share free.
Source: Heritage Insurance Holdings, Inc.
Was this article valuable?
Here are more articles you may enjoy.
China Executes 11 People Linked to Cyberscam Centers in Myanmar 
UBS Top Executives to Appear at Senate Hearing on Credit Suisse Nazi Accounts 
FM Using AI to Elevate Claims to Deliver More Than Just Cost Savings 
Credit Suisse Nazi Probe Reveals Fresh SS Ties, Senator Says 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.