Launched in 2018, Orion180, a premier provider of insurance solutions began issuing homeowners insurance in noncoastal areas of Alabama and Mississippi this month.
These insurance policies have been issued through its admitted insurer Orion180 Select Insurance Co.
Orion180 Select offers homeowners coverage through nearly 2,000 independent agency distribution partners in Alabama and Mississippi and in noncoastal areas. Its surplus lines insurance carrier, Orion180 Insurance Co., is in coastal areas. Coverage varies by state.
The initial targeted geographic markets for homeowners insurance are Alabama, Florida, Georgia, Indiana, Mississippi and North Carolina.
Kenneth Gregg, CEO and founder of Orion180 said, “This expansion to offer our admitted insurance program in Alabama and Mississippi is the latest in a series of steps Orion180 has taken to bring homeowners insurance capacity to the Southeast and other regions. It is part of our plan to deliver admitted and non-admitted homeowners insurance solutions to coastal and noncoastal areas in a growing number of states.”
There are plans for further geographic expansion in 2023 and 2024, including Indiana and Georgia where it has insurance department approvals pending. The firm also has pending regulatory applications in Arizona, New Mexico and Ohio.
Gregg concluded, “Numerous geographic markets continue to be negatively impacted by weather catastrophes, other claims events, and a contraction of homeowners underwriting capacity. But given Orion180’s strong capital, significant reinsurance backstop, and underwriting discipline, we view these markets as opportunities to provide a premier insurance experience for customers and independent agent partners.”
