ORCHID UNDERWRITERS EXPANDS COMMERCIAL FOOTPRINT TO ALABAMA AND MISSISSIPPI
Vero Beach, FL – June 14, 2017 – Orchid Underwriters Agency, LLC (“Orchid”), a leading specialty underwriter of catastrophic coastal insurance, announced that it expanded its Commercial Lines business to two new states, Alabama and Mississippi. The two new states join New Jersey, North Carolina, South Carolina, Florida, Louisiana and Texas as states where the Orchid products are offered. Orchid’s Commercial Lines division specializes in Business Owner Policies (BOP), Monoline Property Policies and Commercial Package Policies (CPP) with coastal exposure, including a variety of coverage options serving small and medium sized commercial businesses, including habitational risks.
Orchid’s Vice President of Commercial Lines, Bryan Schofield, said, “Orchid is pleased to bring our commercial programs to the coastal areas of Alabama and Mississippi. To make sure our agents’ experience is optimal, we’re leveraging technology using our online quoting platform, Orchid Connect. Through the combination of product and technology, we now provide wind capacity to the entire Gulf Coast region and plan to expand into eight additional states up the East coast by the end of the year.”
Founded in 1998 and based in Vero Beach, FL, Orchid (orchidinsurance.com) specializes in providing specialty insurance products for homeowners and small businesses throughout the United States and the Caribbean. The Company’s comprehensive product offering provides customers with a single, comprehensive solution for homeowners and condominium property insurance, including wind and wind only, general and excess flood, earthquake, builder’s risk and others. Orchid aims to be agents’ first choice by offering superior process, policy and pricing options, high quality system technologies, expertise in the E&S market with coastally-exposed risks, and extensive knowledge of coastal CAT-exposed market areas in the East and Gulf Coast states. Orchid only represents well-known A.M. Best A-rated insurance carriers. In November 2014, private equity firm Gryphon Investors made a majority investment in Orchid.