Major Partnership Launches Earthquake Insurance Facility | Insurance business America
Emerald Bay and Arrowhead target businesses in earthquake zones
reinsurance
By Mav Rodriguez
Emerald Bay Risk Solutions has partnered with Arrowhead, a major general insurance agency in the United States, to launch a new commercial earthquake insurance facility called Arrowhead EQ DIC. The goal of this new initiative is to provide Difference in Conditions (DIC) insurance policies specifically designed for medium to large businesses in earthquake-prone regions such as California and the Pacific Northwest.
The Arrowhead EQ DIC facility will leverage over $250 million in capacity, enabled by long-term relationships with leading carrier partners and a focus on disciplined underwriting. The primary reinsurers supporting this facility are high-quality companies with an A or better rating from AM Best.
Emerald Bay CEO Dave Ingrey expressed his excitement about partnering with Arrowhead for its inaugural program.
“Arrowhead is highly regarded within the industry for its superior underwriting standards and specialized E&S insurance capabilities. We are proud to work together to bring to market a novel, risk quality-focused solution that meets growing capacity needs. This is the foundation of a meaningful relationship with natural synergies and we look forward to our mutually valuable partnership with Arrowhead,” said Ingrey.
Lewis Defuria, president of Commercial Earthquake at Arrowhead, also noted that Emerald Bay’s underwriting collaboration and experience with top MGAs and reinsurers will help Arrowhead continue to innovate.
“This facility will combine our more than 25 years of experience supporting the wholesale market with Emerald Bay’s strong foundational underwriting expertise to help market participants access capacity for such a niche product,” Defuria said.
Emerald Bay was founded in March 2024 with the support of Bain Capital Insurance to deliver tailored insurance solutions, consistent underwriting results and long-term partnerships with select high-performing Managing General Agents (MGAs) and leading reinsurance partners. The company has established itself as a robust, well-capitalized risk management company and has an AM Best Financial Strength Rating of A- (Excellent).
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2024-06-07 13:10:00
www.insurancebusinessmag.com
