Orchid Insurance Partner -- CrossCover -- Enters E&S Property Market

·2 min read

HOUSTON, August 03, 2021--(BUSINESS WIRE)--CrossCover Insurance Services, a new MGU targeting middle-market commercial business established in partnership with Orchid Underwriters Agency, LLC ("Orchid Insurance"), will begin writing middle market, excess and surplus property this month, Scott Hanson, founder and president of Houston-based CrossCover announced today.

CrossCover will offer limits up to $50,000,000 per location through a panel of A.M. Best rated carriers and reinsurers.

Hanson said, "We are excited to work with the carriers and reinsurers that have stepped forward to support CrossCover rather than sit on the sidelines in this hard market. We will leverage wind and earthquake capacity and write diverse E&S accounts across the nation to achieve spread-of-risk. This will reduce our carriers’ volatility and reinsurance costs and will improve their return on capital. To achieve this end, we have appointed wholesale broker teams that focus on non-catastrophe business, and CrossCover will use proprietary tools to monitor our portfolio on a real-time basis."

Steve Carlsen, CEO of Orchid Insurance, added, "We have enjoyed working with Scott in getting CrossCover to this point. The assembling of new capacity in current conditions is a testament to the regard the market has for Scott and his team. Orchid is pleased to have been able to offer new products to its carrier partners while also building new relationships with carriers unique to CrossCover. We are grateful for their trust and support. It has been an excellent start in a new partnership, and we’ll be excited to watch CrossCover grow."

About CrossCover Insurance Services

Formed in a partnership with Orchid Insurance, CrossCover is a managing general underwriter of middle-market commercial properties for wholesale broker clients. Headquartered in Houston, CrossCover possesses the expertise to deliver a diverse portfolio of specialized insurance solutions for varying risks in the E&S lines including catastrophe-exposed properties.

About Orchid Insurance

Founded in 1998 and based in Vero Beach, FL, Orchid Insurance provides specialty insurance products for homeowners and businesses throughout the United States.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210803005815/en/

Contacts

Brett Dupree: bdupre@crosscover.com

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