VYRD launches in Florida
VYRD, a new insurance company serving homeowners in Florida, has today launched as a joint venture between SiriusPoint, a specialty insurer and reinsurer, and bolt, part of the bolttech .
According to a report, the new carrier will be selecting up to 42,045 customers of state-owned Citizens Property Insurance Corp., who will receive an offer to join the new company. By the second half of 2022, the company plans to sell policies on the open market.
VYRD is also partnering with more than a dozen companies based in Florida or with deep roots in the state to provide services including actuarial rate development, underwriting, policy and claims administration and inspections.
“As a 35-year resident of Florida, I understand the challenges facing homeowners and agents and look forward to creating a new carrier that provides solutions for both as we experience some of the best and worst weather that Mother Nature has to offer. VYRD aims to combine deep expertise, financial strength and the latest technology to meet the unique needs of Florida homeowners.” – David Howard, CEO of VYRD
“The timely launch of VYRD offers the homeowners of Florida much needed choice when protecting their homes. In partnership with bolt, we are responding to market needs and building on our commitment to investing in technology-enabled businesses that are game-changers in the insurance market.” – Sid Sankaran, CEO of SiriusPoint.