Orchid Insurance Announces Partnership With R&Q Accredited America
Against a backdrop of unsettled property catastrophe markets,
“The frequency of severe coastal events is challenging for everyone, from insureds and their agents all the way through to carriers and their reinsurance backers,” said Carlsen. “The creativity of our two companies has led to a program that will bring flexible solutions to the market in a sustainable way.”
“Our risk sharing partnership with Accredited provides the ability to adjust pricing, structure and deductibles in order to deliver stable and consistent capacity to our agents and their customers,” said Bowie. “We especially appreciate the support of our reinsurers, who stepped up to back a new program in a difficult market.”
The Accredited program will be launched on Orchid’s innovative rating algorithm that adjusts in real-time to account for risk aggregation, protecting the portfolio from unwanted concentrations. “We have spent a lot of time updating our pricing view to adapt to the changing environment on both the attritional and CAT sides,” said Harshali Dhabalia, Program Leader at
“Orchid has a proven history of profitably underwriting through many active CAT seasons and has consistently outperformed their peers,” said Amrose. “Accredited’s core philosophies and reinsurance partnerships are centered around underwriting excellence. Orchid has a comparable underwriting focus which is a driving factor for Accredited’s partnership in the launch of this new specialty, personal lines facility.”
Per
About
Orchid is the largest personal lines E&S managing general underwriter, providing specialty homeowners insurance for coastal risks in the Gulf, Southeast, and Mid-Atlantic states. It offers admitted homeowners insurance through Trusted Resource Underwriters Exchange (TRUE), its joint venture with
About R&Q Accredited
R&Q is a non-life global specialty insurance company operating two core, highly complementary, businesses:
Accredited is R&Q’s leading program manager operating across the US and
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Orchid Media Contact
Media contact:
AVP,
[email protected]
Source:
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