Sacramento, CA — (September 22, 2008) Hawai`i residents now have a new option for homeowners insurance coverage, thanks to the licensure and expansion of Universal North America Insurance Company (“Universal North America”).  The expansion into Hawai`i marks the fifth state where Universal North America writes homeowners policies, following Texas, South Carolina, Arizona and Nevada. Universal North America’s offerings in Hawai`i include homeowners, condo, renters, dwelling fire, and flood policies with automobile coverage expected to be added in 2009.

“We welcome Universal North America to Hawai`i,” stated Hawai`i State Insurance Commissioner J. P. Schmidt.  “There is a need in the Hawai`i market for a highly rated, stable insurance carrier providing wind coverage at a competitive price.”

Unlike many other policies in Hawai`i, Universal North America’s standard homeowners insurance policy will provide the option to include coverage for hurricane loss.  Agents and policyholders alike will enjoy the convenience of one policy that provides coverage for hurricane loss and all other covered perils.  As in other states, agents in Hawai`i can expect competitive commissions, comprehensive coverages, unique discounts and a state-of-the-art web based agent & consumer platform.   

“Hawai`i provides a unique opportunity for Universal to expand and diversify through an exceptional existing independent agency network.” said James R. Watje, Universal North America vice president of operations for the Western Region.   “Hawai`i consumers currently have limited options to purchase both Homeowners insurance and Hurricane coverage in one policy.  Universal offers these coverages together reducing the cost of coverage, making policy maintenance easier and more convenient for both agents and their policyholders,” he added.

Universal North America will also offer flood insurance and home equipment protection, which will cover mechanical breakdown for items such as air conditioning systems, telephone and security systems and swimming pool equipment.

“Our expansion into Hawai`i is a continuation of the company’s strategic plan into the U.S. personal lines market,” said Rick Espino, president of Universal North America. “The strategic plan includes a course of prudent underwriting and reserving activities, coupled with careful expansion.”