
Two Florida-based insurance companies, Amelia Underwriters and Security First Insurance, are expanding their product offerings to adapt to the state’s dynamic insurance market. Amelia Underwriters, a wholesale and surplus lines broker in Fernandina Beach, now provides artisan contractors’ general liability coverage in Florida, in addition to other lines like commercial property and homeowners insurance. The company is partnering with the Florida Association of Insurance Agents’ Independent Marketing Solutions and Cimarron Insurance for this initiative.
Security First Insurance, headquartered in Ormond Beach, is launching an HO-5 homeowners insurance program for new-home buyers, managed by Embark MGA. This "embedded" program offers comprehensive coverage, including replacement costs for property and belongings, often at lower premiums due to the reduced risk associated with new homes built to modern building codes. While initially delayed by regulatory hurdles, Security First plans to proceed using a "use-and-file" approach, enabling implementation before approval.
The HO-5 program reflects Security First’s adjustment to market conditions, including legislative reforms that have reduced litigation expenses. Despite challenges such as rising costs and potential construction labor shortages, new home construction remains robust, with over 111,000 private housing starts projected in 2025. The company also aims to enhance the claims process by handling claims in-house.