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.
Glencore Faces $2 Billion Suit as It Alleges Radiant World Fraud 
Fire, Heat Threaten Parts of US From North Dakota to California 
Torrential Rain Brings Deadly Floods Back to East Coast of Spain 
Zillow Loses Antitrust Battle Over Chicago Area Listing Feed 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.