#USA #Alpharetta #Insurance #ShelterWind #Deductible

Introduction

In response to the growing concerns surrounding severe weather events, ShelterWind has announced the launch of an innovative insurance program aimed at property owners in wind-exposed regions. This new insurance offering, known as the all-wind and hail deductible buyback policy, is specifically designed to alleviate the financial strain that homeowners often face due to hefty out-of-pocket deductibles before their primary insurance takes effect in the event of wind-related claims.

Program Overview

ShelterWind’s buyback insurance policy is tailored for middle-market and high-value homeowners, providing coverage for structural values of up to $50 million. The program is backed by Certain Underwriters at Lloyd's and is available to property owners across all 50 states, though it is particularly beneficial to those residing in the 18 coastal, wind-prone states, ranging from Texas to Maine. This policy serves as an excess follow form, allowing it to complement existing residential and commercial coverages.

Key Features

The all-wind and hail deductible buyback insurance offers several key advantages:

• - Reduction of Deductibles: Property owners can significantly decrease the amount they pay out of pocket before being eligible for claims under their primary insurance policies.
• - Broad Coverage: Unlike traditional offerings which might limit coverage to hurricanes or named storms, this policy protects against all significant wind and hail events, including convective storms, providing a comprehensive safety net for property owners.
• - Multiple Claim Coverage: The policy allows for both occurrence and aggregate coverage limits, ensuring that homeowners are protected in the event of multiple wind-related incidents within a single policy term.

Leadership Insights

Simon Hudson, a prominent figure in the insurance industry and the CEO of ShelterWind, stated that the personal lines insurance market is facing substantial changes due to increasing risks from natural disasters.

“As severe weather events become more frequent and intense, this product offers brokers and agents a proactive solution to ease the financial burden on property owners,” Hudson noted, emphasizing the urgency for innovative solutions in the industry.

Joe Braunstein, a transaction underwriter at ShelterWind, added that the unique aspect of this product lies in its extensive protection against various types of wind exposures, highlighting its importance in today's market.

Company Background

Founded by Simon Hudson and Joe Braunstein, ShelterWind is a program administrator with a mission to provide supplemental insurance solutions that facilitate a smoother claims process for property owners. The company's initiative is part of the broader MISSION portfolio, which focuses on delivering specialty insurance programs tailored to meet the evolving needs of clients across different regions.

Conclusion

The rollout of the all-wind and hail deductible buyback policy represents a significant step forward in the insurance industry, particularly for homeowners in areas vulnerable to wind-related disasters. By reducing financial burdens and enhancing accessibility to essential funds post-disaster, ShelterWind aims to provide peace of mind and a reliable safety net for property owners nationwide. This new offering underlines the commitment of ShelterWind to innovatively address the challenges faced by the personal lines insurance market today. For more information on the program, you can visit shelterwind.com.