Kin brings back coverage to California

Kin Insurance has launched a new home insurance offering in California, which is available across the entire state. Kin first introduced coverage in California in 2020 but it later stopped writing business in the state.

Policies in California are marketed and distributed through Kin Insurance Services, a California surplus lines broker, and coverage is underwritten by a non-admitted carrier.

The company also announced earnings last week for the entity managing the two reciprocals – Kin Interinsurance Network and Kin Interinsurance Nexus Exchange. Kin’s operating income for the year was $12 million, representing a 126% increase over the prior year. When it comes to the reciprocals, below are some figures.

In 2024, Kin Interinsurance Network and Kin Interinsurance Nexus Exchange subscribers made mandatory surplus contributions of ~$42 million and ~6 million, respectively.

“Adapting to increased weather volatility is one of society’s greatest challenges at the moment, and insurance will play a key role. There is a growing narrative that places like California are uninsurable, which actually implies they are uninhabitable. We don’t think that’s true. California is insurable, and is an amazing place to live, but it will require new technology, new analytics and new business models, which is exactly why we created Kin.” – Sean Harper, CEO and Founder of Kin.