What is the story about?
What's Happening?
Bamboo Insurance has partnered with Accredited to expand homeowners insurance coverage in California. The partnership combines Bamboo's tech-enabled underwriting platform with Accredited's financial strength to offer non-admitted homeowners insurance. This product is designed to address the evolving risk landscape and provide coverage options to homeowners across the state. Bamboo is a managing general agency licensed to sell property/casualty insurance products, while Accredited provides A-rated insurance capacity in the U.S., U.K., and Europe.
Why It's Important?
The partnership between Bamboo Insurance and Accredited is significant for California homeowners, offering new coverage options in a challenging insurance market. As climate-related risks increase, homeowners face difficulties in securing adequate insurance coverage. This collaboration aims to address these challenges by providing innovative solutions and expanding availability. The partnership could enhance Bamboo's market presence and contribute to the stability of the insurance industry in California.
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