Arkansas Welcomes New Private Flood Insurer

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.