TAMPA, Fla., March 09, 2016 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE:HCI), predominantly engaged in homeowners insurance, reinsurance, real estate and information technology, has launched TypTap.com, an online platform for quoting and binding flood insurance policies in Florida.
“TypTap provides a new way for Florida homeowners to buy flood insurance," said Paresh Patel, HCI Group chairman and chief executive officer. “Never before has it been possible to get a flood insurance quote in seconds and purchase the policy in minutes.”
The flood coverage under the policies is provided by TypTap Insurance Company, a newly formed HCI Group subsidiary and Florida’s first licensed insurer to focus solely on flood insurance. TypTap describes itself as Not Your Typical Insurance Company™.
“We plan to establish TypTap as the leading alternative to the National Flood Insurance Program in Florida,” said Patel. “Many Floridians face routine price increases and surcharges from the NFIP. Our competitively priced flood insurance policies represent one of the few alternatives available.”
For more information on TypTap, please visit www.typtap.com.
TypTap Insurance Company is a Florida-based property insurance company and a wholly owned subsidiary of HCI Group, Inc.
About HCI Group, Inc.
HCI Group, Inc. owns subsidiaries engaged in diverse, yet complementary business activities, including homeowners' insurance, reinsurance, real estate and information technology. The company's largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., is a leading provider of property and casualty insurance in the state of Florida.
The company's common shares trade on the New York Stock Exchange under the ticker symbol "HCI" and are included in the Russell 2000 and S&P SmallCap 600 Index. Its 8% Senior Notes trade on the New York Stock Exchange under the ticker symbol "HCJ." For more information about HCI Group, visit www.hcigroup.com.
This news release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “confident,” “prospects” and “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. For example, HCI Group, Inc. can give no assurance that TypTap will be successfully establish itself as the leading alternative to the National Flood Insurance Program. Some of these risks and uncertainties are identified in the company’s filings with the Securities and Exchange Commission. Should any risks or uncertainties develop into actual events, these developments could have material adverse effects on the company’s business, financial condition and results of operations. HCI Group, Inc. disclaims all obligations to update any forward-looking statements.
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