SURE Becomes One of the First Demotech-Rated Insurers to Create Capacity by Offering Surplus Lines Homeowners Coverage in California
New product addresses critical capacity gap amid retrenching market.
SureChoice Underwriters Reciprocal Exchange (SURE), a policyholder-owned coastal insurer, in partnership with SageSure, one of the largest managing general underwriters focused on catastrophe-exposed markets, today announced the launch of its surplus lines homeowners insurance in
SURE’s product arrives at a crucial time for the
“California’s residual market has nearly doubled in recent years, illustrating the gap left by private insurers and the need for financially stable, reliable coverage options,” said
Underwritten and distributed by SageSure, SURE’s surplus lines homeowners product accommodates an expanding segment of high-quality business in a region with limited standard market options. While the E&S market is rapidly growing across the US, it has seen the most significant growth in
“SageSure’s producer partners are on the front lines of a rapidly changing market, and our role is to help them succeed despite the volatility,” said
Demotech has been the financial analysis firm of choice for regionally focused and specialty insurers since it became the first to review and rate independent, regional, and specialty insurers in 1989. With this new product, SURE is one of the first Demotech-rated carriers to offer surplus lines homeowners in the
“Demotech is proud to leverage our experience and capabilities to identify financially stable insurers to assist consumers in California,” said
About SURE
SURE is the member-owned insurance company for reliable coastal property protection. Founded in 2021, SURE is managed by a team of experienced and passionate insurance leaders who believe in building a safer world, one coastal property at a time. With more than 180,000 policyholders and more than
About SageSure
SageSure is the managing general underwriter pioneering ways people protect their American Dream. A leader in catastrophe-exposed property insurance, SageSure was founded in 2009 to deliver reliable products, exceptional customer experiences, and strong underwriting results in challenging insurance markets. SageSure currently operates in 14 states and provides home, flood, and commercial coverage on behalf of its highly rated carrier partners. With more than
About Demotech
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Source: SageSure
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