ICAT Specialty Offering Residential Hurricane Product in Hawaii

ICAT Specialty Insurance Co. is offering residential named hurricane insurance for dwellings, apartments, town homes and condominiums in Hawaii.

Written on an admitted basis, the product provides named hurricane coverage for policyholders with values up to $2.5 million. Dwellings and other structures are valued on a replacement cost basis; personal property coverage may be endorsed to reflect that coverage enhancement.

Deductible options are offered at 1 percent to 5 percent, as well as 10 percent and 15 percent. Substantial premium discounts are offered for properties equipped with hurricane connectors, hurricane storm shutters and other windstorm protective devices. Other optional coverages include ordinance or law and additional property coverage for retaining walls, pools and fences.

ICAT Specialty was approved to underwrite Named Hurricane coverage by the Hawaii Insurance Division on May 26. The company says it is rated “A” by Demotech Inc.

ICAT Specialty is a subsidiary of ICAT Holdings LLC, a Boulder, Colo.-based company. For information, visit www.icat.com or contact Maureen Soranaka at msoranaka@icat.com, Becky Blauer at bblauer@icat.com or Jerry Kopack at jkopack@icat.com. Phone: (800) 694-ICAT (4228).