Universal insurance writes homeowners, dwelling, fire and flood policies

Insurance Commissioner of Hawaii has approved the acquisition of ICAT Specialty Insurance by Universal Insurance Holdings, for the coverage of Hurricane insurance for homeowners – reported in Pacific Business News.

Universal writes homeowners, dwelling, fire and flood policies. ISIC’s owner, ICAT Holdings, entered the market in 2006. The firm has expanded the business in the US by providing hurricane coverage for homeowners.

J. P. Schmidt, Insurance Commissioner, Hawaii, said: “ICAT provides hurricane insurance for those Hawaii homeowners who have had difficulty finding coverage. ICAT’s sophisticated underwriting and risk management tools combined with Universal North America’s breadth of coverage options and strong financial position will provide important choices for Hawaii’s homeowners.”