Verita launches new deductible buy-back policy
NEW YORK, May 23, 2024 (GLOBE NEWSWIRE) — Verita CSG, Inc. (Verita), a visionary Managing General Underwriting (MGU) company, today announced the introduction of an innovative new product providing insureds with the ability to purchase a Deductible Buy-Back policy. This new policy aims to protect insureds from unexpected expenses by providing coverage for wind, hail and named storm deductibles imposed by their All Risk Property Insurance program. This policy can also help mitigate the instances whereby a bank or lender requirement is imposed in order to seek a lower retention as a means to honor a financing agreement. Coverage is available for windstorm and hurricane exposures in coastal areas, in addition to inland/non-coastal areas that are susceptible to tornado and hail.