Venbrook Launches Habitational Product for California Condos, Townhomes
Venbrook Group has entered a strategic alliance with DB Insurance to bring a specialty coverage option for multi-unit residential properties in California.
The product is tailored for condominium and townhome homeowners association policies. It is the first offering from the firm’s new Specialty Product Group.
The product was crafted specifically for California commercial property owners with challenges obtaining insurance coverage due to natural disasters, regulatory issues, and limited capacity. The product is backed by DB Insurance, and it covers California condominiums and townhomes only, with various other guidelines for eligibility.
The product is written by an admitted carrier. Other features include:
- Liability $1 million/$2 million
- Business Income – ALS
- Med Pay $5,000 per person
- Extended replacement coverage up to 125%
Venbrook’s new Specialty Product Group plans to introduce programs and products for the construction and real estate sector and will be led by Bryan Meyer, executive vice president.
Venbrook is a holding company with subsidiaries engaged in retail broking, wholesale broking, programs and claims services.
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