MarketScout highlights capacity crunch in both Florida & California

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May 8, 2019 | Reinsurance News

Author: Luke Gallin

In light of two major high net worth homeowners insurance companies deciding to either exit or reduce their underwritings, MarketScout has revealed that its new brush and wind facilities are structured to help agents that are looking to replace non-renewed business.

The insurance distribution and underwriting firm notes that its underwriting facility, CatRisk, focuses on wind exposed homeowners in Florida and the Eastern Seaboard.

Also underwritten by MarketScout is the WildCat underwriting facility, which leverage unique, large data sets to assist with risk selection. MarketScout explains that this facility is focused on insuring brush-exposed properties in California and other Western states.

MarketScout’s Chief Executive Officer (CEO), Richard Kerr, commented: “We expected an admitted market capacity crunch would eventually arise in both Florida and California.

“Three years ago we began building our capacity and employing top-notch high net worth underwriters and managing executives. We are fully staffed with experienced underwriters and ample capacity. We stand ready to offer terms for brush in California and wind in Florida.”