U.S. RE Places Terrorism Risk Reinsurance for Housing Authority
U.S. RE recently placed terrorism risk reinsurance for Housing Authority Insurance Group (HAIG) of Cheshire, CT, the largest insurer of public housing in the United States, reports Paul Dzielinski, U.S. RE Senior Vice President. The terrorism catastrophe cover protects members of the Housing Authority Group from terrorism exposure not covered by the Federal Terrorism Risk Insurance Act.
Members of The Housing Authority Insurance Group are Housing Authority Risk Retention Group, Inc.; Housing Authority Property Insurance – A Mutual Company; and Housing Enterprise Insurance Company. They are insurers of public and affordable housing. The terrorism risk reinsurance covers members of the three companies up to a limit of $10 million excess of $1 million. The coverage was placed with reinsurers rated A+ by A. M. Best. Dzielinski worked with HAIG Vice President Dominic Mazzoccoli on the project.