Emerald Bay partners with Lightspeed Specialty

Emerald Bay Risk Solutions, a collaborative underwriting carrier backed by Bain Capital Insurance,  announced a strategic partnership with Lightspeed Specialty Insurance Solutions, a specialty insurance MGA and subsidiary of Volnay Insurance Holdings, to launch an insurance facility in California that delivers “meaningful coverage” for homeowners and landlords.

The facility will primarily target owner- or tenant-occupied dwellings across the state, providing comprehensive property and liability insurance in low wildfire risk areas. Reinsurance for the facility is provided by a market-leading firm that carries an A+ rating from AM Best.

“One of the benefits of being built from the ground up as a robust, well-capitalized company is the ability to enter complex markets that others might avoid. Through our extensive experience in E&S insurance and a deep network of reinsurance relationships, we are able to develop collaborative relationships with our partners to deliver programs that are acutely focused on underwriting excellence. We are looking forward to the opportunity to bring this type of coverage to the California property market that standard carriers have exited.” – Miles Allkins, Chief Risk Officer and Co-Founder of Emerald Bay.

“Through our partnership with Emerald Bay, we are combining over 100 years of aggregate insurance industry experience to deliver a specialized program built on a high-quality, low risk portfolio. Given increased risk for wildfires, homeowners and landlords in California are presented with limited options for coverage with appropriate rates. We are looking forward to partnering with Emerald Bay to deliver much needed E&S capacity to this segment.” – Chris Rigdon, Chief Executive Officer of Volnay.