Emerald Bay Risk Solutions Partners with Lightspeed Specialty Insurance Solutions to Launch California Homeowners Insurance Facility
2024年6月20日 - 10:00PM
ビジネスワイヤ(英語)
Emerald Bay Risk Solutions (“Emerald Bay” or the “Company”), a
collaborative underwriting carrier, today announced a strategic
partnership with Lightspeed Specialty Insurance Solutions
(“Lightspeed”), a specialty insurance MGA and subsidiary of Volnay
Insurance Holdings (“Volnay”), to launch an insurance facility in
California that delivers meaningful coverage for homeowners and
landlords in a critically underserved market.
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The facility will primarily target owner- or tenant-occupied
dwellings across the state, providing comprehensive property and
liability insurance in low wildfire risk areas. Reinsurance for the
facility is provided by a market-leading firm that carries an A+
rating from AM Best.
“One of the benefits of being built from the ground up as a
robust, well-capitalized company is the ability to enter complex
markets that others might avoid,” said Miles Allkins, Chief Risk
Officer and Co-Founder of Emerald Bay. “Through our extensive
experience in E&S insurance and a deep network of reinsurance
relationships, we are able to develop collaborative relationships
with our partners to deliver programs that are acutely focused on
underwriting excellence. We are looking forward to the opportunity
to bring this type of coverage to the California property market
that standard carriers have exited.”
“Through our partnership with Emerald Bay, we are combining over
100 years of aggregate insurance industry experience to deliver a
specialized program built on a high-quality, low risk portfolio,”
said Chris Rigdon, Chief Executive Officer of Volnay. “Given
increased risk for wildfires, homeowners and landlords in
California are presented with limited options for coverage with
appropriate rates. We are looking forward to partnering with
Emerald Bay to deliver much needed E&S capacity to this
segment.”
About Emerald Bay Risk Solutions
Emerald Bay Risk Solutions, a “Collaborative Underwriting
Carrier,” is a specialty insurance firm, co-founded by industry
veterans Dave Ingrey and Miles Allkins. With Bain Capital Insurance
providing the flexibility to take advantage of market opportunities
and a core of established programs, Emerald Bay’s emphasis on
alignment of interests for all parties and on collaborative
underwriting cultivates trust and mutual accountability. The
company is structured to deliver quality admitted and surplus lines
insurance solutions, working to bring optimized program offerings
to the reinsurance market. Emerald Bay has an AM Best Financial
Strength Rating of A- (Excellent). For more information, visit
www.emeraldbayrisk.com.
About Lightspeed Specialty Insurance Solutions
Lightspeed Specialty Insurance Solutions (“Lightspeed”) is a
California homeowners property specialist dedicated to bringing
much needed capacity to the distraught California homeowners and
landlord market. Lightspeed is a subsidiary of Volnay Insurance
Holdings (“Volnay”), a Lloyds cover-holder. Volnay is led by Chief
Executive Officer Chris Rigdon.
To learn more about Lightspeed, visit https://lsins.com.
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Media: Charlyn Lusk / Thomas Conroy Stanton
clusk@stantonprm.com / tconroy@stantonprm.com (646) 502-3549 /
(646) 502-9006