Allstar Underwriters is expanding its vacation rental program into three new states having secured capacity from Lloyd’s carriers including Hiscox and QBE, The Insurer has learned.
MGA and wholesale broker Allstar has offered the vacation rental program to clients in Tennessee since 2015, with capacity provided by Global Indemnity offshoot American Reliable.
In a statement, Allstar announced it had expanded the vacation rental offering into Arkansas. This publication has learned that Allstar’s vacation rental program will soon also be offered in Georgia and North Carolina.
The expansion of the vacation rental program into these three states has been made possible after Allstar secured capacity from Hiscox and QBE, this publication understands.
“We are excited to expand our successful Tennessee vacation rental program into surrounding states, starting with Arkansas,” said Laura Richardson, Allstar’s vice president and property and casualty broker, in the statement.
“Our program offers broad-based coverage for vacation rental owners and we are confident it will exceed the expectations in all ways,” Richardson added.
The expansion means that Allstar can now offer investment property owners with cabin and overnight rental exposure protection for their property and liability risks. Coverage for single-home and multi-dwelling landlords, vacation properties, condominiums, town homes and single-family homes is also available.
Some of the risks covered by the program include accidental damage by tenants, fire, storms and other non-wear-and-tear events, both natural and man-made.
Allstar, which is headed up by president William Hobbs, is just one of the personal lines and commercial insurance platforms that sits under the larger Allstar Financial Group banner.
Atlanta, Georgia-based Allstar Financial Group also operates bond specialist MGU Allstar Surety, Lloyd’s-supported forestry specialist Outdoor Underwriters and logging contractor specialist Hawkins & Rawlinson. It also owns northeast US focussed wholesale broker Arkon Special Risk.
Allstar Financial also owns primary and excess liability specialist MGA Venture Underwriters, which writes on the A-rated paper of United Specialty Insurance Company.