Honeycomb Insurance, a MGA for landlords and condo associations, has expanded its footprint to Washington and Maryland, bringing its total active US states to 18.
According to the company, Honeycomb serves more than 60 per cent of the US population, insuring assets with a total insured value of more than US$35 billion.
In addition to expanding its geographic reach, Honeycomb recently introduced its new Excess & Surplus (E&S) programme which offers expanded eligibility for landlords and condo associations.
The programme, backed by Atlanta-based insurer Builders, extends the solutions Honeycomb can offer to risks that do not quite qualify for their admitted programme while maintaining the ease of use and technical innovation.
Honeycomb is projected to sell over US$100 million in insurance premiums this year. The company recently secured US $36 million in funding, led by Zeev Ventures.
Itai Ben-Zaken, co-founder and CEO of Honeycomb, highlights: "As the US insurance market grapples with rising premiums, reduced competition, and widespread refusals to insure, Honeycomb is stepping in with a highly differentiated, tailored solution for property owners.
"Our advanced technology enables us to tackle these challenges directly, offering more affordable and accessible coverage where it’s needed most."
