SOURCE: Edison Insurance Company

Edison Insurance Company

November 03, 2014 17:11 ET

Edison Insurance Re-Launches With New Management

Florida-Based Homeowner Insurer to Begin Offering Policies Statewide in All Markets

BOCA RATON, FL--(Marketwired - November 03, 2014) - Edison Insurance Company (Edison) is being re-launched with new management and flexible, consumer-friendly coverage options designed to help agents and customers easily select the coverage they need. The Company plans to begin offering homeowner and condominium unit owner policies in Florida on November 3, 2014.

Edison, originally headquartered in St. Petersburg, Florida, was purchased by Boca Raton-based Florida Peninsula Insurance Company (FPI) in January of 2010. Subsequently, all Edison policies were transferred to Florida Peninsula. Edison sat dormant while management developed a new program designed to provide a more accurate and competitive rate to the consumer in Florida.

To both customer and agent, Edison Insurance Company will be about choices. Instead of offering just the standard coverage and one premium, Edison will display a variety of coverage each time a quote is requested. The customer and agent can then select from one of these coverage options and further customize the quote before binding. This approach will enable the customer and agent to create an insurance program which most closely matches the customer's needs.

The company shares the same seasoned management team and managing general agency (MGA) as Florida Peninsula Insurance Company. The new Edison has $20 million in capital and maintains a comprehensive reinsurance program backed by substantial reinsurers, all rated A or better. Edison does not plan to participate in the Citizens takeout program. Instead, the company will market its homeowners and condominium unit owners insurance through a select group of professional insurance agents. 

To find out more about Edison Insurance Company, agents and future customers can visit http://www.edisoninsurance.com.

ABOUT EDISON INSURANCE COMPANY

Edison, originally headquartered in St. Petersburg, Florida, was purchased by Boca Raton-based Florida Peninsula Insurance Company (FPI) in January of 2010. The company shares the same seasoned management team and managing general agency (MGA) with Florida Peninsula Insurance Company. Edison currently has $20 million in capital and has received a Financial Stability Rating® of A-Exceptional from Demotech. To learn more about Edison please visit our website http://www.edisoninsurance.com.

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