Green Shield Risk Solutions and Arden Insurance Services Join Forces to Combat Wildfire Risk
06 Agosto 2024 - 8:05AM
Business Wire
Arden Insurance Services LLC, a managing general agent (MGA)
specializing in insurance for residential condominium associations,
has partnered with Green Shield Risk Solutions, a Chicago-based
catastrophe risk mitigation specialist, to address the escalating
wildfire risk. The collaboration complements Arden’s tech-forward
strategy of leveraging cutting-edge data and analytics to
comprehensively evaluate risk in wildfire-prone areas.
Additionally, the partnership allows Arden to introduce
differentiating risk mitigation strategies to those brokers and
clients looking for guidance on improving structural
resiliency.
“Our partnership with Arden represents a notable step forward in
our mission to help protect communities from the devastating impact
of wildfires,” said Patrick Blandford, Green Shield’s Founder and
CEO. “We’re excited that they have chosen our state-of-the-art
wildfire analytics to supplement their best-in-class underwriting
platform.”
Blandford added that environmental factors are driving the rapid
escalation of wildfire severity and frequency, necessitating new
and innovative approaches to wildfire underwriting and proactive
mitigation.
“Ultimately, we believe that exposure to extreme weather doesn’t
make a property uninsurable, just worthy of expert attention,” he
said. “Green Shield’s insights delve deeper than a traditional risk
score, enabling underwriters to navigate the wildfire risk
landscape and identify properties that are good risks in what are
traditionally considered challenging geographic regions. Working
together, we’re helping Arden better understand the realities of
the wildfire exposure they are proactively looking to manage.”
“Arden is excited to collaborate with Green Shield and
incorporate their expert analytics into our underwriting process,”
said Brian Cohen, Co-founder and CEO of Arden. “We focused on
taking a differentiated approach to wildfire risk since we first
entered the California market in 2016. In 2023, we launched our
Wildfire Exposed Product. Today, through our partnership with Green
Shield, we can provide our clients with not only differentiated
insurance protection, but also the knowledge and resources to
prevent and mitigate their wildfire risk.”
Cohen said that the key aspects that set Arden apart include the
depth of the company’s underwriting knowledge, its niche focus on
residential condominium associations, and its progressive approach
to managing risk.
“Green Shield naturally aligns with those differentiating
elements, allowing Arden to provide comprehensive solutions to our
broker partners in a property market that has tried to avoid
brush-exposed risk,” Cohen added. “In the end, we expect Green
Shield’s property-level insights to complement our already
comprehensive analysis of wildfire-exposed risks, enabling us to
meet the needs of residential condominium associations perceived to
be exposed to wildfire risk.”
About Arden Insurance Services
Arden Insurance Services LLC is a specialty managing general
underwriter/agency focused on residential condominium associations.
Our business model is built around product-specific expertise, and
proprietary underwriting and rating methodologies. This is
reflected in the knowledge and acumen of our team and our use of
state-of-the-art data analytics and technology.
About Green Shield Risk Solutions
Green Shield Risk Solutions is a managing general agent that
combines industry-leading wildfire data and analytics, risk
mitigation and insurance solutions to help clients better
understand natural catastrophe exposure at a property and portfolio
level. Backed by an experienced team of risk mitigation
specialists, we prescribe the necessary measures to help insurers,
policyholders, and communities minimize that risk. Green Shield
also offers select retail agents a mechanism to tap into
specialized excess and surplus (E&S) markets and parametric
coverage via our wholesale business. In 2024, we anticipate our own
capacity for insuring both residential and commercial property in
catastrophe-prone states.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240806132567/en/
Media Contact: Joshua Clifton Head of Marketing &
Communications 773-230-1304 joshua.clifton@greenshieldrisk.com