Universal North America Writes First Homeowner Policies in South Carolina

SARASOTA, FL — (Aug. 10, 2007) Universal North America has begun writing new homeowners policies in South Carolina. The first policy was written in July, and since Universal has begun actively working with agents throughout the state.

Universal’s entry into the market follows an initiative launched by Gov. Mark Sanford and Department of Insurance Director Scott Richardson to make homeowners insurance widely available and avoid pullouts that plagued Florida after four major hurricanes hit the state in 2004.

“Our goal is to be a part of the solution,” said Universal President Rick Espino. “Homeowners deserve peace of mind that their homes will be protected, whether from storms, theft, fire or other disaster.”

Universal, one of Florida’s top homeowner carriers, weathered the Florida hurricanes and emerged as a leading carrier in the state, when many other companies decided to flee after heavy losses. “Many property insurance carriers left the Florida insurance market after four hurricanes hit in 2004, but not Universal,” said Espino.

He said Universal’s financial strength, coupled with local knowledge of the Florida market, allowed the company to provide customers with the highest level of security and customer satisfaction, even during extremely volatile times. He added, “We plan to carry forward our stability and focus on exemplary customer service to build the same trust in South Carolina.”

Extensive Catastrophe Planning ensure Universal is Prepared Part of the reason for Universal’s stability and strength is its extensive catastrophe preparation, according to Hale Campbell, Universal North America vice president of claims. Campbell said Universal has prepared a wide-ranging catastrophe plan for hurricanes and other natural disasters. “We also undergo a simulation of a Category 5 hurricane or other similar disaster, preparing for the worst, every year. Our entire staff mobilizes and works in an environment that is intended to mirror as much as possible, the reality of a devastating hurricane or a destructive tornado or hail storm,” he explained.

Campbell added that Universal simulates every detail as if an actual storm was en route and then makes landfall. Data is sent through Universal’s sophisticated modeling system to determine the number and severity of losses and geographic patterns based on the potential path of the storm. “This way, people who have suffered potentially devastating losses have adjusters mobilized immediately and dedicated to handling just their claims, as quickly and efficiently as possible,” he said.

Besides its Florida operation, which serves more than 140,000 policyholders, Universal began offering homeowner’s insurance coverage in Texas in 2005. “The expansion into South Carolina is a continuation of Universal’s strategic expansion plan into the North America personal lines market,” said Espino. Expansion into other states, including Nevada and Arizona is expected later this year, with Georgia to come in 2008.

In South Carolina, Universal North America’s first offering will be homeowner’s policies and flood, with automobile and personal umbrella coverage expected in 2008.