Venbrook gets DB Insurance capacity for California condo and townhome programs

By Isha Marathe

July 16 - (The Insurer) - Venbrook Group Partners has entered into a strategic capacity partnership with DB Insurance to launch admitted specialty coverage options for multi-unit residential properties in California.

The Venbrook-designed product is tailored for condominium and townhome HOA policies only, and is the first offering from the firm's new specialty product group.

The new business segment will introduce programs and products for the construction and real estate sector and is led by executive vice president Bryan Meyer.

Through the new offerings, California condominium and townhome clients can secure liability limits of $1 million per occurrence and $2 million in the aggregate, along with $5,000 of medical payments coverage per person and extended replacement coverage of up to 125%.

"We are thrilled to partner with DB Insurance Company and bring an admitted, A-plus rated carrier to fill the capacity needs of commercial property residential owners in California," said Jason Turner, founder and CEO of Venbrook Group.

"For many reasons, there is a hole in the market. This product is a lifeline for this segment."

In March, Venbrook secured capacity from Crum & Forster to write a portfolio of accident and health business, starting with an international travel program led by market veterans Curt Carlson and Eric Adair, Program Manager reported.

Independently owned Venbrook has operations within the retail broking, wholesale broking, programs and claims services sectors.

The company can trace its history back to the formation of CalPro Brokerage in 1995. Venbrook Insurance Services, a retail brokerage, was established in 2000, before Venbrook Group then launched in 2006.