VERO BEACH, Fla.--(BUSINESS WIRE)--Orchid Underwriters (“Orchid”), a leading provider of coastal excess & surplus (“E&S”), as well as High Net Worth personal lines, is pleased to announce a new partnership with National General Premier, a specialty personal lines insurance company designed to meet the needs of affluent customers.
National General Premier focuses on affluent insureds who may not meet the thresholds of other High Net Worth carriers, yet whose home values are too high for standard coverage. National General Premier provides coverage for homes valued from $750,000 to $10 million with guaranteed replacement costs and cash-out options. In addition to homeowners insurance, they are able to write personal umbrella limits up to $10 million, private collections coverage (jewelry, fine arts, furs, collectibles) and personal auto.
At the present time, National General Premier is offering its Premier product in New Jersey, New York, Connecticut, Michigan and California, with plans to expand that footprint significantly in 2017.
Tim deRosa, Executive Vice President for Orchid’s Specialty High Net Worth Division, is excited about the new opportunities available to Orchid agents through National General Premier. He commented, “I am very happy to welcome National General Premier at Orchid; it provides a unique solution to an underserved audience by bridging a gap in coverage.”
Founded in 1998 and based in Vero Beach, FL, Orchid specializes in providing specialty insurance products for homeowners and small businesses throughout the United States and the Caribbean. The Company’s comprehensive product offering provides customers with a single, comprehensive solution for homeowners and condominium property insurance, including wind and wind only, general and excess flood, earthquake, builder’s risk and others. Orchid aims to be agents’ first choice by offering superior process, policy and pricing options, high quality system technologies, expertise in the E&S market with coastally-exposed risks; and extensive knowledge of coastal CAT-exposed market areas in the East and Gulf Coast states. Orchid only represents well-known A.M. Best A-rated insurance carriers. In November 2014, private equity firm Gryphon Investors made a majority investment in Orchid.