Florida gets a new home insurer

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Florida gets a new home insurer


Florida gets a new home insurer | Insurance business America

It is a new offer from the insurer’s parent company…

Property

By Jonalyn Cueto

Windward Risk Managers, the management company for Florida Peninsula and Edison Insurance, has announced the launch of Ovation Home Insurance Exchange, a new addition to Florida’s insurance landscape.

According to a press release, the new insurer is expected to begin issuing policies in June 2024 and promises increased capacity and coverage options at competitive rates.

“Ovation will greatly benefit both Florida homeowners and agents by offering Floridians new dedicated capital, additional capacity and insurance options at competitive prices,” said Paul Adkins, CEO of Ovation. “We believe that having subscribers share the same interests in the exchange creates a sense of community that leads to better results, which ultimately translates into cheaper premiums. This is an exciting offering for Florida homeowners and we are excited to bring Ovation Home to Florida.”

Ovation’s operations are led by the same team responsible for leading Florida Peninsula and Edison Insurance over the past two decades. With the formation of Ovation, the management team changed its name to Windward Risk Managers as it was intended to become the operational center for Ovation, Florida Peninsula and Edison Insurance, overseeing all aspects of sales, service and claims support.

Clint Strauch, president of Ovation, emphasized its commitment to offering innovative pricing and improved insurance options.

“We will begin selling policies through our existing agents throughout Florida in the second quarter of 2024. In addition to organic growth, we look forward to participating in future Citizens adoptions and the Citizens Clearinghouse program,” said Strauch.

Since its founding in 2005, Windward Risk Managers has led Florida Peninsula and Edison Insurance, which have combined written premiums of over $1.1 billion and serve over 250,000 policyholders.

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2024-04-05 14:07:35

www.insurancebusinessmag.com