Coastal Insurance coverage Underwriters proclaims new service partnership

Coastal Insurance coverage Underwriters (CIU), a program administrator specializing in insurance coverage merchandise for condominium associations, house owner associations, and golf and nation golf equipment, has introduced a brand new service partnership with Superior Specialty Insurance coverage Firm (SSIC), a State Nationwide Insurance coverage Firm surplus traces insurer.

SSIC, rated A (Glorious) by AM Greatest with a Monetary Class Dimension of X (Ten), supplies surplus traces protection for insurance coverage packages. This partnership, efficient July 1, 2024, will profit CIU’s affiliation packages.

Kim Bushong Petrillo, CIU co-president and chief working officer, mentioned that working with Superior Specialty reinforces CIU’s dedication to partnering with financially sound carriers for continued stability locally affiliation market and encourages extra participation from reinsurers.

Sim Bridges, co-president and chief underwriting officer additionally expressed enthusiasm in regards to the long-term partnership with SSIC.

“This relationship lends larger continuity to our present product choices whereas offering extra flexibility for product enlargement corresponding to increased property limits for our condominium affiliation product and Distinction in Circumstances (DIC) packages,” Bridges mentioned.

Since its inception, CIU has grown to develop into one of many largest managing basic underwriters in the US, specializing in group affiliation merchandise, with over 10,000 owners and condominium associations at the moment insured.

Coastal Insurance coverage Underwriters is a division of Starwind Specialty Insurance coverage Companies, LLC, which is a subsidiary of CRC Insurance coverage Companies, LLC.

Elsewhere in condominium insurance coverage…

In different latest developments within the condominium insurance coverage area, the Nationwide Institute of Requirements and Know-how investigators revealed that the Florida condominium tower collapse concerned many defective help columns.

The tragedy, which occurred three years in the past, killed 98 individuals and resulted in additional than $1 billion in payouts ensuing from lawsuits.

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