Centauri Insurance Company Market Research Report

Company Overview

• Name: Centauri Insurance

• Mission: Providing more than just insurance, Centauri Insurance aims to protect families and assets by delivering exceptional property and casualty insurance products.

• Founded: Established in 2006.

• Founder(s): No information is available.

• Key People:

• Hong Guo - Chief Executive Officer

• Ricardo A. Espino - President

• Traci Stillwagon, CPCU, CIOP - Chief Operations Officer

• Maria Marinov - Chief Financial Officer

• JoAnn Brown, SPHR, SHRM-CP - Chief People Officer

• Martin Myrick - Chief Sales and Distribution Officer

• Alaina Varella - General Counsel and Vice President of Legal

• Steve Zielke - Chief Risk Officer

• Headquarters: Sarasota, Florida

• Number of Employees: No information is available.

• Revenue: No information is available.

• Known For: Centauri Insurance is renowned for its property and casualty insurance products, specializing in storm-related challenges across multiple states including Alabama, Florida, Hawaii, Louisiana, Mississippi, South Carolina, and Texas.

Products

Residential Insurance Products

1. Homeowners Insurance

• Description: Protects from financial losses due to damage caused by natural disasters, theft, or unforeseen events covering home, personal belongings, and liability.

• Key Features: Coverage for property, possessions, liability, and additional living expenses.

2. Renters Insurance

• Description: Protection for tenants and their belongings from theft, fire, and damage.

• Key Features: Coverage for personal possessions, liability, additional living expenses, and optional endorsements for unique items.

3. Condominium Insurance

• Description: Designed for condo owners to cover interior and personal property.

• Key Features: Coverage for personal possessions, liability, and additional living expenses.

4. Flood Insurance

• Description: Covers property and possessions damaged due to floods.

• Key Features: Separate from standard policies, options like no waiting period under the Private Flood Program.

5. Dwelling Fire Insurance

• Description: For homeowners or landlords to protect investments and income.

• Key Features: Coverage for property, possessions, liability, and income reimbursement.

6. Equipment Breakdown

• Description: Covers mechanical and electrical breakdowns in homes.

• Key Features: Available as an add-on to existing policies.

Commercial Insurance Products

1. Commercial Residential

• Description: For mid-size condominium associations and homeowner’s associations covering buildings and contents.

• Key Features: Coverage includes equipment breakdown and ordinance or law.

2. Business Owners

• Description: For office, retail, wholesale, and services providing business property and liability coverage.

• Key Features: Includes building coverage, business personal property, business income, and liability.

3. Equipment Breakdown

• Description: Covers potential mechanical and electrical exposures.

• Key Features: Integral to both residential and commercial policies.

Recent Developments

• New Partnerships:

• July 20, 2023: Partnership with Betterview for storm risk management.

• Acquisitions and Mergers:

• October 16, 2024: Lilypad Insurance Holdings completed the acquisition of Centauri Specialty and Centauri National Insurance Company.

• April 22, 2024: A subsidiary of Arbol Inc. acquired Centauri Insurance from Applied Underwriters.

• Awards and Recognitions:

• July 27, 2022: Named #10 in Florida Trend's 2022 Best Places To Work In Florida.

• Response to Natural Disasters:

• October 24, 2022: Proved essential in preparedness and client service post-Hurricane Ian.

Conclusion

Centauri Insurance continues to expand its influence and service offerings through strategic partnerships and acquisitions, positioning itself as a key player in the insurance market with a focus on climate risk management and comprehensive insurance solutions for both individuals and businesses.