Orchid Insurance Grows Commercial Division To Eight New States
VERO BEACH, Fla., June 11, 2018 — Orchid Underwriters Agency, LLC (“Orchid Insurance”), a leading specialty underwriter of catastrophe exposed property insurance, announced today that it has expanded its Commercial Lines division into the key states of New York, Massachusetts, Maryland, Virginia, Georgia, Connecticut, Rhode Island, and Delaware. This significantly broadens Orchid’s commercial presence to a total of sixteen states throughout the Northeast, Southeast and the Gulf.
Previously, Orchid Insurance’s Commercial Lines division core products were exclusively available in eight states: New Jersey, North Carolina, South Carolina, Florida, Louisiana, Alabama, Mississippi and Texas. This expansion provides business growth opportunities for commercial agents along the East Coast, as they now have access to a wide variety of coastal-focused commercial products, all backed by A.M. Best Rated carriers.
“Orchid has been known for its legacy E&S homeowner products, available in 44 states, the Bahamas and the Caribbean,” said Brad Emmons, President and CEO of Orchid Insurance. “Our successful commercial launch in the Gulf and the Southeast showcased the huge demand for coastal-focused commercial products. Since rolling out in the region our commercial division has been growing significantly by continuously bringing new products and commercial underwriting and sales resources to keep up with the demands of the marketplace.”
“We are very excited to expand our commercial products along the East Coast, where we know there is a need for coastal products, as evidenced by the growing severity of wind and rain storms, as well as hurricanes,” said Bryan Schofield, Senior Vice President of Commercial Lines. Orchid will introduce to the region over 400 classes of business. The commercial division also offers D&O, Monoline General Liability, Inland Marine, Wind-Only, Builder’s Risk, EPLI and Cyber, among others. “We will continue to expand our products and markets to meet the demands of commercial insurance agents and their insureds.”
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 both personal and commercial 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.
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