CLEARWATER, Fla., June 01, 2018 (GLOBE NEWSWIRE) -- Assured Risk Cover, a leading provider of StormPeace residential parametric insurance, today announced that former Florida Insurance Commissioner Kevin McCarty has joined its Board of Advisors. McCarty served as Florida’s first appointed Insurance Commissioner from 2003 to 2016 and President of the National Association of Insurance Commissioners in 2012.
“I’m delighted and honored to have the privilege of joining the Board of Advisors of Assured Risk Cover and I look forward to engaging with the company leadership in its quest to provide greater financial security for Floridians that may be adversely impacted by a devastating hurricane,” said McCarty. “I have always firmly believed that parametric insurance could be a very practical tool to enhance resiliency in society and accelerate the recovery of individual victims.”
“It’s with great enthusiasm that we welcome Kevin to our Advisory Board,” said Alok Jha, CEO of Assured Risk Cover. “With his background in insurance regulation and experience steering the state of Florida through a challenging period of extreme catastrophes, Kevin is uniquely qualified to lend his expertise and judgment to ARC’s strategy and steer the company through a period of dynamic growth.”
Assured Risk Cover is licensed with the Florida Office of Insurance Regulation to sell StormPeace hurricane insurance. The company is gearing up for its second hurricane season, providing policies that pay out automatically and instantly based on the strength of the named hurricane and its distance from the insured’s property. StormPeace covers expenses that are excluded by a traditional Homeowners policy and can be used to even satisfy the hurricane deductible.
About Assured Risk Cover
Assured Risk Cover (ARC) is a venture-backed Silicon Valley corporation based in Pleasanton, California. ARC is founded by an experienced team of catastrophe risk professionals whose singular vision is to bring immediate financial relief to people globally following catastrophes. Alok Jha (CEO), Kanwal Rekhi (lead investor from Inventus Capital Partners) and Kevin Schrage (former President of Aon Small Commercial Lines) form the Board of Directors of ARC. StormPeace is backed by highly rated insurance and reinsurance companies—ranked A- and A+ by A.M. Best, respectively. For more information, visit www.stormpeace.com and www.assuredriskcover.com.