Hawai’i State Insurance Commissioner J. P. Schmidt announced the launch of DTRIC Insurance Underwriters Ltd. (DIU), an “A-” Best
Rated Co and subsidiary of local insurance provider DTRIC
Insurance. The new company will expand DTRIC’s direct commercial lines business to include property, umbrella, commercial auto, general liability, and package coverages for Hawai’i’s middle-sized businesses.
“Commercial insurance is an area of particular concern for mid-sized businesses,” Schmidt said in welcoming the new provider. “Business associations in Hawaii such as National Federation of Independent Business (NFIB) have stated over the last few years that commercial liability insurance is one of their top concerns. The launch of DIU provides Hawai’i businesses with some additional capacity and competition in the insurance market and additional choices.”
Deborah Halcro, President of Valenti Print Group, expressed the concerns of local business owners, “The cost of commercial liability insurance is always a concern. We will be looking forward to having an additional choice and more competitive rates in this area of insurance.”
The Department of Commerce and Consumer Affaris said the middle-sized businesses that DIU will be serving are those that generate on average at least $5 million in annual revenues and employ a workforce of at least 10 employees.
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