The company, Spinnaker Insurance Company, officially entered the Rhode Island marketplace this month
A new coastal home insurance company has entered the Rhode Island homeowner’s insurance marketplace this month. The company, Spinnaker Insurance Company, is now offering property insurance for coastal homeowners through independent insurance agencies in our neighbor to the South. The company which is rated A- (Excellent) by A.M. Best is fully licensed and admitted in Rhode Island.
Insurance Agency and Customer Service Company (IACSC), a New London, Connecticut-based company has been tapped as the exclusive New England distributor for Spinnaker.
Agents and insureds have a real need for a Best’s-rated carrier that offers tailored coverage and competitive pricing,” said John Kittel, manager of IACSC in New London, Connecticut. “Few carriers specializing in coastal property have a Best’s rating.”
IACSC, which was formed by John Kittel, will be in charge of appointing agents in Rhode Island as well as organizing the insurers entry into other New England states in the near future. Many of our readers may recognize Mr. Kittel’s and know him as a long-time member of the Massachusetts insurance industry.
For those unfamiliar with Mr. Kittel’s history in Massachusetts, he is the former president of the Harrington Insurance Agencies, now Bearingstar, a statewide chain of insurance agencies part of the Arbella Insurance Group. Along with his agency experience, Mr. Kittel also served for a dozen years as an Executive Vice President of the Arbella Insurance Group until his retirement from that company. In addition, Mr. Kittel’s insurance career also included six years as the Founder and Chief Operating Officer of The Covenant Group, six years as the Chief Marketing and Strategy Officer and Vice President at The Hanover, and 14 years as the Chief Financial Officer and Senior Vice President of the Middlesex Mutual Assurance Company.
In 2014, Mr. Kittel founded IACSC in New London, Connecticut “…to provide services to insurance agencies and their customers seeking the most secure insurance products for coastal properties.”
Now looking to appoint agents
Now that it is officially in Rhode Island, Spinnaker is looking to offering selected agents appointments.
“Spinnaker makes it simple for agents to do business,” Mr. Kittel was quoted as saying. “The easy-to-use agent’s website offers online rating and binding that works with agency systems and IVANS. Our production underwriters offer pricing flexibility for quality business,” he added. “We seek our trusted agent’s advice in adjusting pricing and underwriting to be competitive and profitable.”
According to IACSC , homes built since 1900 would be insured with dwelling limits of $150,000 to $800,000 as well as being eligible without coastal restrictions. As for primary and unsupported seasonal homes, they are also eligible. The company says a minimum $1,000 deductible is available even for hurricanes.
Additional benefits of insuring with Spinnaker include credits for early-signing, new-home and newer-roof discounts. The most significant discounts for Spinnaker insureds are for mature homeowners and secondary homeowners who take seasonal precautions to safeguard their homes.
The carrier also offers companion policy credits if a Spinnaker’s agent also writes an insured’s automobile policy. Spinnaker also offers “the Harbor Master endorsement” that includes special limits of liability, identity theft, water backup, refrigerated products, tree removal and more.
More information about agency-appointment opportunities and requirements is available by contacting Mr. Kittel directly at IACSCLLC@gmail.com or 203-987-8678.
