Verita launches new deductible buy-back policy
24 May 2024 - 5:28AM
Verita CSG, Inc. (Verita), a visionary Managing General
Underwriting (MGU) company, today announced the introduction of an
innovative new product providing insureds with the ability to
purchase a Deductible Buy-Back policy. This new policy aims to
protect insureds from unexpected expenses by providing coverage for
wind, hail and named storm deductibles imposed by their All Risk
Property Insurance program. This policy can also help mitigate the
instances whereby a bank or lender requirement is imposed in order
to seek a lower retention as a means to honor a financing
agreement. Coverage is available for windstorm and hurricane
exposures in coastal areas, in addition to inland/non-coastal areas
that are susceptible to tornado and hail.
Shaun Gonzales, Head of Property, Verita, commented, “Our goal
is to provide our broker partners and insureds with impactful
solutions to their insurance needs. We are excited to introduce our
new Deductible Buy-Back Policy, which utilizes a fully integrated
technology platform.”
Additional features of Verita’s new Deductible Buy-Back policy
include:
- Available in all fifty US
States,
- Wide-ranging appetite including
condominiums, multi-family housing, hotels, office space &
retail units,
- The policy incorporates follow-form,
which links and follows the overlying property policy,
- No minimum premium required
Edward Chiang, CEO, Verita, commented, “We are delighted to
expand our product offering with the launch of our new Deductible
Buy-Back policy. This product enhances our innovative, long-term
insurance solutions to further distinguish Verita as a market
leader within the industry classes we serve.”
To learn more, please visit:
www.veritainc.com
About Verita
Verita CSG, Inc. (d/b/a Verita CSG Insurance
Services, Inc. in the States of California and New York) (“Verita”)
is a general agent with its principal place of business in
Portsmouth, New Hampshire (CA license #: 0660690). Verita
underwrites insurance business on behalf of certain non-affiliated
insurance companies subject to pre-approved underwriting
guidelines. Verita is licensed as a property casualty insurance
agency in all states in which products are offered. Availability
and qualification for coverage, terms, rates and discounts may vary
by jurisdiction. Policy obligations are the sole responsibility of
the issuing insurance carrier. Coverage under any insurance policy
is subject to the terms and conditions of that policy and is
ultimately the decision of the buyer. Verita receives commission
and/or additional compensation from its insurance company partners
in connection with its sale of insurance to you. WTW is an investor
in Verita.
Media Contacts
Douglas MenellyDouglas.Menelly@wtwco.com +1 (516) 972 0380
Arnelle SullivanArnelle.Sullivan@wtwco.com +1 (718) 208-0474
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