The collaboration introduces a suite of flexible coverage structures and underwriting tools designed to lower premiums in catastrophe-exposed regions. By leveraging enhanced risk segmentation, Bamboo is rolling out policies featuring higher deductible options—up to $10,000—and tiered water damage sublimits. These adjustments allow policyholders to customize their coverage while providing insurers the discipline required for long-term sustainability in a volatile environment.
Bamboo Insurance Adds $150M in California Capacity via MS Transverse
A $150 million infusion of admitted capacity is reaching California’s strained homeowners insurance market through a new partnership between Bamboo Insurance and MS Transverse. The deal aims to stabilize coverage options in high-risk zones, such as Los Angeles and San Diego, where rising costs have recently limited access for many property owners.
John Chu, CEO of Bamboo Insurance, stated that the partnership facilitates more competitive pricing and provides agents with a viable alternative to surplus lines. Beyond structural changes, the program includes a new loyalty-based discount for claim-free policyholders. This expanded capacity is available immediately for new business and renewals across California, offering a reprieve to homeowners struggling with the state's reduced insurer participation and climbing reconstruction expenses.
Comments (0)
No comments yet. Be the first!