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Specialty Underwriting Insurance Solutions (SUIS), a Division of Specialty Program Group LLC, Announces a New High-Limit Product for Renter-Occupied Housing Units
News provided bySpecialty Program Group
Sep 30, 2022, 8:00 AM ET
SUMMIT, N.J., Sept. 30, 2022 /PRNewswire/ -- Specialty Underwriting Insurance Solutions (SUIS), a division of Specialty Program Group LLC (SPG), announced the launch of a new product for renter-occupied housing units. The new solution, branded HABX, is targeted to real estate owners and real estate investment trusts who own large portfolios of apartment units.
"The number of renter-occupied housing units has grown steadily over the past five years and the pace is increasing rapidly," said SUIS President Derek Schiavone. "Owners interested in a higher level of coverage are finding that many excess carriers are requiring higher attachments on habitational business. HABX solves this important piece of the insurance puzzle for the largest, most respected habitational owners in the US."
HABX is written on A-rated paper for owners and managers of multifamily properties and real estate portfolios as well as real estate investors. Coverage includes market rate apartments, for-rent single family housing, contingent liability and lessors risk for retail, commercial, office, hotels/motels, warehouses, shopping centers and more.
SUIS, an excess casualty managing general agent, was formed by SPG in January 2022. HABX is the first in a series of niche products SUIS is building to meet the coverage needs of the real estate and construction industries.
To learn more, contact Derek Schiavone, President, Specialty Underwriting Insurance Solutions (SUIS), at 310-405-5939.
Headquartered in Summit, NJ, Specialty Program Group is a fully licensed holding company established to acquire and scale best-in-class insurance underwriting facilities and specialty businesses throughout North America. SPG has a vast portfolio of specialty companies and is over two billion in premium. For more information, please visit www.specialtyprogramgroup.com.
Specialty Underwriting Insurance solutions is an excess casualty managing general agency formed by Specialty Program Group to support the real estate and construction industries with niche products. SUIS was formed in January 2022 as a division of SPG and is headquartered in New York, NY.
Media: Chris Lamitola
SUIS: Derek Schiavone
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SOURCE Specialty Program Group