Backed by an “A” Rated Non-Admitted carrier, the program will provide flexible insurance policies for the growing number of vacant residential and commercial buildings across the U.S.
Integrated Specialty Coverages (“ISC” or the “Company”), a leading, multi-line program administrator that builds end-to-end insurance products utilizing advanced artificial intelligence (AI) engineering and data analytics, today announced the launch of its exclusive new Vacant Property Program (“VPP”), designed to address the increasing number of vacant residential and commercial properties across the U.S., while providing owners flexible terms at competitive rates.
The new VPP program will target both properties and vacant land, including residential and commercial buildings, as well as buildings under renovation. It will be led by Gareth Jelley, Senior Vice President of the Property Division at ISC, and is backed by an “A” Rated Non-Admitted carrier, with the flexibility to write property and liability policies over alternate periods, including three-, six- and twelve-month terms. The VPP can provide up to $2M total insurable value (TIV) for any one location, as well as general liability limits of $1 million occurrence / $2 million aggregate, with no cost for additional insured endorsements. It can also be accessible in Basic, Broad and Special form, and insures against a variety of exposures such as theft, water damage and other weather-related damages, including the growing threat of wind damage in Tier 1 coastal regions.
“The number of vacant homes and properties across the country has increased dramatically amid the COVID-19 environment, creating a substantial and increasing burden on property owners,” said Mr. Jelley. “We are pleased to be partnering with our A-rated carrier partner and look forward to utilizing our technology to enable owners to insure their vacant residential and commercial properties at adaptable and competitive rates, with greater flexibility.”
“We are excited to continue to expand our new offerings in the property and casualty space and flex our technology to adapt to this changing environment,” commented Matthew Grossberg, CEO of Integrated Specialty Coverages. “VPP is ISC’s second property-focused program in the past year, and we look forward to rolling out new products and offerings across the property space and other verticals.”
The program is exclusively available to ISC and SIS Insure and will soon be available through ISC’s online MGA platform. Interested parties can apply through ISC or SIS Insure’s websites directly, here:
About Integrated Specialty Coverages
Integrated Specialty Coverages (ISC) is a leading, multi-line program administrator dedicated to underwriting excellence, client service, and customer experience. ISC has built an end-to-end insurance platform by connecting a broad network of insurance markets and distribution channels with proprietary data analytics capabilities. The firm uses sophisticated technology and analytics to revolutionize how complex programs are underwritten and operated. They are joined by experienced professionals from all spheres of the insurance ecosystem. ISC's strategy is focused on a combination of strategic M&A, data-driven decision making, as well as an innovative means of delivery. ISC provides its partners with high-quality service, competitive commission, and creative product delivery options to help expand their footprint in any desired line or class of business. ISC is a portfolio company of KKR. Please visit: https://iscmga.com/
About Safebuilt Insurance Services (SIS Insure)
Safebuilt Insurance Services ("SIS Insure") is a Program Manager licensed in all 50 states and utilizes a proprietary technology platform coupled with an intelligent distribution channel to provide the full continuum of insurance products, across the spectrum of contractor general liability, commercial auto, licensing and performance bonds, excess liability, builders risk, inland marine and workers compensation. Please visit: https://sisinsure.com/
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