FCCI Insurance expands excess and surplus coverage

A Sarasota-based insurance company is expanding an offering for high-risk ventures that it rolled out last fall specifically to Florida, Georgia and Texas markets.

FCCI Insurance, through its excess and surplus company FCCI Specialty, now accepts submissions for property, inland marine and crime coverage in the Gulf Coast, Mid-Atlantic and Midwest regions when packaged with general liability, according to an April 22 statement.

E&S insurance provides coverage for risks that are too high or unusual for traditional carriers to cover.

"FCCI built a robust E&S product offering to meet the needs of agents and policyholders with hard-to-place risks,” Kristin Swineford, FCCI’s senior vice president of excess and surplus, says in a statement. “Our primary objective is to bring the same superior service associated with the FCCI brand to the E&S market, while optimizing for speed and ease of doing business.”

FCCI began offering general and excess liability coverage through the newly formed FCCI Specialty company as of Oct. 1, 2024. The next day, FCCI Specialty bound its first E&S policy for Eldridge Equipment Repair of Brooksville. Within two weeks, it passed $1 million in written premium, and by Nov. 1 had hit the $2 million mark.

In its first three months, FCCI Specialty wrote 120 policies totaling more than $4 million in E&S premium, which officials said was a “testament to the effectiveness of our strategy” as well as its strong relationships and dedicated team.

"We launched FCCI Specialty initially to enhance our existing product offerings and position ourselves to capture additional opportunities with new products and customized underwriting," FCCI Executive Vice President and Chief Regional Officer Tracey Pfab says in a statement. "With our expertise, we can assist our agency partners in crafting E&S solutions for targeted business classes across a variety of industries."

Founded in 1959, FCCI insures more than 12,000 policyholders across a variety of industries. The company has $3.3 billion in assets and $1.2 billion in direct written premium.