HONOLULU – First Insurance Company of Hawaii, Ltd. (FICOH) has reentered Hawaii’s residential hurricane insurance market.
On March 1, 2022, FICOH took over the hurricane insurance book of business previously underwritten by AXIS Insurance Company, with which FICOH had partnered to provide residential hurricane insurance. Existing policyholders will experience no interruption in hurricane coverage during this transition.
“Hurricanes are the biggest disaster threat we face as a state,” said Mark Yoda, FICOH president and CEO. “Rather than find another hurricane insurance partner, we decided to take the business back. We’re pleased FICOH is able to solidify a strong and sustainable program that preserves hurricane insurance options for Hawaii homeowners and also gives FICOH more long-term control over its hurricane insurance program without any sacrifice in capital strength or capacity.”
Hurricane insurance from FICOH is available with a companion FICOH homeowners and dwelling fire policy. Hurricane coverage is also available with FICOH’s package policy for home and auto. FICOH’s package policy (FirstSelect Portfolio) offers a blanket limit, which is a single limit of insurance that spans across multiple coverage categories, including the dwelling, other structures, personal property, loss of use, and hurricane. In most standard policies, each coverage has its own set limit, but FirstSelect Portfolio gives one total amount for all, allowing the policyholder to shift coverage from one to the other when they need to.
To learn more about FICOH’s homeowners and hurricane insurance options, contact your independent agent or find an independent agent here.
About First Insurance Company of Hawaii
Founded in 1911, First Insurance Company of Hawaii, Ltd. is the oldest and largest property and casualty insurer domiciled in Hawaii, with assets of $666.4 million, liabilities of $399.5 million, and policyholders’ surplus of $266.8 million as of December 31, 2020.
First Insurance, a member of the Tokio Marine North America (TMNA) group of companies, enjoys an “A+” rating from AM Best. Proud of its broadly experienced, service-oriented staff, First Insurance employs 300 insurance professionals and distributes its products through 26 independent general agencies. First Insurance was awarded the American Heart Association’s Workplace Health Gold Achievement for 2020. In 2021, First Insurance was named Hawaii’s number one Best Places to Work in the “large company” category by Hawaii Business magazine.
First Insurance supports many local organizations through monetary donations made at the corporate level, by its associates and the First Insurance Foundation. Its charitable giving focuses on four areas: 1) family, social services and health care; 2) education and career development; 3) environment and sustainability; and 4) civic, culture and the arts.