Arkansas Insurance Commissioner Allen Kerr has granted a Certificate of Authority to Florida-based Homeowners Choice Property & Casualty Insurance Company (HCPC) to offer private flood insurance in Arkansas.
“Arkansas is the first state to grant HCPC authority to do business outside of Florida,” Kerr said in a press announcement.
Headquartered in Tampa, Florida, HCPC will offer Arkansas property owners a private market equivalent to the policies sold under the federal government’s National Flood Insurance Program (NFIP) with certain enhancements.
HCPC is a wholly owned subsidiary of the HCI Group Inc., which announced in early July that it would begin offering policies nine other states.
Was this article valuable?
Here are more articles you may enjoy.
Hard Market Conditions Expected to Ease in 2025 as Claims Inflation Softens: Swiss Re 
Viewpoint: Deepfake Fraud Is On the Rise. Here’s How Insurers Can Respond 
Deere Retreats From Diversity Measures After Online Attacks 
Progressive Q2 Net Income Skyrockets Over 320% From This Issue
