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Universal North America Insurance Company Offers Homeowner Policies in Arizona and Nevada
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SARASOTA, FL — (Jan. 31, 2008) Arizona and Nevada residents now have a new option for homeowners insurance coverage, thanks to an expansion by Universal North America that becomes effective this week. The personal lines carrier, based in Sarasota, Fla., will begin writing homeowner policies in these states this month. Other personal lines products, such as auto and umbrella coverages, will become available soon.
Universal North America companies already serves more than 140,000 policyholders in Florida, Texas and South Carolina. “We’re very excited about this move into the western region of the United States,” said Universal President Rick Espino. “In today’s uncertain economic market, we believe homeowners want responsible underwriting and smart risk management, as well as competitive rates.”
Universal will offer homeowners insurance, as well as flood insurance and home equipment protection, which covers mechanical breakdown for items such as air conditioning systems, telephone and security systems and swimming pool equipment. Auto and umbrella will be launched in Arizona later this year, followed by Nevada.
“Universal values our customers’ security and peace of mind, and we take that responsibility very seriously,” says Espino. “That’s why our company is built on rock-solid financial practices and exemplary customer service—traits we’re excited to bring to Arizona and Nevada.”
Universal North America is a subsidiary of Universal Group, Inc., the top personal lines carrier in Puerto Rico. Universal Group is an A.M. Best “A” (Excellent) rated carrier with more the $250 million in surplus.
“The expansion into Arizona is a continuation of the company’s strategic expansion plan into the North America personal lines market,” said Espino. “The strategic plan includes a course of prudent underwriting and reserving activities, coupled with careful expansion.”
Expansion into other states including Georgia and Hawaii is expected later this year.
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