Source: SiriusPoint
SiriusPoint will provide capacity to Arden, which has launched a new wildfire exposed risks program that includes embedded parametric coverage. Arden’s new Consolidated Fire Insurance Policy (“CFIP”) will initially be offered in California with eventual expansion into other wildfire exposed states. The policy offers coverage alongside Arden’s existing all-risk offering.
Brian Cohen, Arden Insurance Services CEO & Co-Founder, said: “The recent LA wildfires further exacerbated the insurability crisis for properties located in wildfire exposed areas and CFIP provides comprehensive coverage for this underserved market. Our broker partners in California and other parts of the Western U.S. have been asking for a solution that would provide peace of mind in a distressed market. We are excited to partner with SiriusPoint to deliver for the industry.”
Patrick Charles, Head of North America Insurance at SiriusPoint said: “We’re proud to become a capacity partner to Arden, working together to meet critical market needs with a program that is both creative and impactful. Arden’s thoughtful program strategy, backed by a decade of proven success in this class of business, is filling a vital gap in an underserved segment. This partnership not only supports the insurance ecosystem but also contributes to the broader economic resilience of California.”
