Hippo unveils homeowners association product
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Hippo Enterprises Inc. on Friday said the first offering from its commercial lines unit is a homeowners association product.
Coverage will include commercial property, fidelity, inland marine, data breaches, general liability, combined directors and officers and employment practices liability, hired and non-owned auto liability with physical damage coverage, and available excess liability covering underlying coverage parts.
Hippo said it will also offer cover “for items that personal lines and traditional commercial lines typically do not include, such as pools, landscaping, private roads, retaining walls, and elevator collision.”
Coverage is available now in Arizona, expanding to Colorado, Illinois, Michigan, Nevada, Oregon, Tennessee and Utah later this year, Hippo said in its statement, adding that additional commercial programs, including condominium associations and single-family rentals, will also begin rolling out later this year.
Rick McCathron, Hippo’s president, said in the statement the insurer wants to “modernize the commercial insurance experience.”
Hippo said in March it will go public through a $5 billion merger with special purpose acquisition company Reinvent Technology Partners Z LLC.
