American Platinum Writes First Homeowners Policy in Florida

Florida has a new player in the insurance market for high-value homes and inland marine policies.

Universal Insurance Holdings Inc. recently announced that its wholly-owned subsidiary, American Platinum Property and Casualty Insurance Corp., had issued its first Florida homeowners’ policy.

American Platinum is offering homeowners multi-peril policies and inland marine insurance on homes valued in excess of $1 million.

The Fort Lauderdale, Florida-based Universal Insurance Holdings is not new to the Florida market. Its wholly-owned company Universal Property & Casualty Insurance Co. is the state’s second leading provider of homeowner coverage with 580,000 policies in-force, representing 9.5 percent of the market.

In addition to being licensed in Florida, Universal Property is licensed and actively writing policies in North Carolina, South Carolina, and Hawaii.