CLEARWATER, Fla., Oct. 16, 2018 (GLOBE NEWSWIRE) -- Florida residents are all too familiar with the harsh realities of a hurricane: downed trees, flooded basements, power outages and evacuation orders. Once again, StormPeace supplemental hurricane insurance is helping them face the disaster’s disruptions with confidence.
Last Wednesday, as Michael roared toward Mexico Beach, StormPeace notified its policyholders in the Panhandle of the storm’s proximity, and Friday notified eligible policyholders that they were due for a payout and how much they had coming to them. All they have to do is attest, and StormPeace will electronically transfer the money to their bank accounts.
StormPeace is insurance that pays on two pre-defined parameters: the strength of a named storm and its distance from the insured’s address. There’s no adjustment process and payments are made within days of the hurricane so residents can get back on their feet faster. StormPeace covers almost all hurricane-related costs, even those excluded by a Homeowners policy, and the funds can even be applied toward the Homeowner deductible.
"Last year we promptly paid all eligible claims from Irma, and again this year it gives us great satisfaction to make these payments in the immediate aftermath of Michael,” said Alok Jha, CEO of Assured Risk Cover, creators of StormPeace. “Within one business day of claims notifications, we have already initiated claims payment for our eligible policyholders, so that they have the cash to begin the recovery process right away.”
StormPeace policyholders affected by Michael are using their funds to remove trees and debris, pay for evacuation expenses, replace spoiled food, pay for temporary lodging and repair or replace unattached structures. If it’s not covered by their Homeowners policy, StormPeace will pay for it. For more information and to purchase a policy, visit www.stormpeace.com or call (877) 932 9377.
Assured Risk Cover (ARC) is a venture-backed Silicon Valley corporation based in Pleasanton, California. ARC is founded by an experienced team of catastrophe risk professionals whose singular vision is to bring immediate financial relief to people globally following catastrophes. Alok Jha (CEO), Kanwal Rekhi (lead investor from Inventus Capital Partners), Kevin McCarty (former Florida insurance commissioner) and Kevin Schrage (former President of Aon Small Commercial Lines) form the Board of Directors of ARC. StormPeace is backed by highly rated insurance and reinsurance companies—ranked A- and A+ by A.M. Best, respectively. For more information, visit www.stormpeace.com