Article ID: bb9fe8fdc70bf6ef3b3ed8adedaf039c8caa7f9ce36b3a01ed3dc4d91b674790
Source ID: primary:reinsurancene.ws
Published At: -
Extraction Method: trafilatura
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American Coastal Insurance Corporation, the insurance holding company behind American Coastal Insurance Company (AmCoastal), has revised its exclusive managing agency agreement with AmRisc, LLC (AmRisc), extending the framework for the companies’ long-standing distribution and underwriting relationship. The amended agreement took effect on 1 July 2026 and replaces the previous fixed expiry date with a rolling structure of successive one-year terms. Under the revised arrangement, either party must provide 48 months’ written notice if it wishes to terminate the agreement for convenience. The agreement will continue in full force during that notice period. American Coastal said the changes mean there is no longer a specified termination date for the agreement. Instead, it will remain in place for a minimum of four years from the date either party gives notice of termination for convenience. AmRisc has worked exclusively with AmCoastal on distribution and underwriting since 2007. American Coastal said AmRisc is responsible for sourcing and underwriting its Florida commercial-residential portfolio and has generated an underwriting profit in each year since the partnership began. The relationship also extends to American Coastal’s excess and surplus (E&S) business. AmRisc is a partner to the company in E&S lines, while the quota share supporting AmRisc’s nationwide E&S commercial property portfolio has contributed additional premium to American Coastal’s expanding E&S portfolio. American Coastal said the revised agreement provides greater long-term certainty around the distribution relationship supporting its Florida business, while maintaining the broader commercial relationship with AmRisc. The company’s previous agreement with AmRisc, which was extended in June 2024, had been scheduled to expire on 1 January 2029. “AmRisc has been our exclusive distribution and underwriting partner since 2007, and this agreement puts that partnership on a permanent footing,” added Brad Martz, President & CEO. “By removing the fixed expiration date and requiring four years’ notice to terminate, we have given shareholders long-term visibility into the franchise that has produced an underwriting profit every year since inception, and a strong foundation under our most important distribution relationship.”
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