TypTap Insurance Company Receives Approval to Write Homeowners Insurance in Nevada as Part of Company’s Nationwide Expansion Plan

Rhea-AI Summary

TypTap Insurance Company, a tech-driven insurance firm owned by HCI Group, has received regulatory approval to offer homeowners insurance in Nevada. This approval aligns with TypTap's strategy for nationwide expansion, having already secured approvals in seven states beyond Florida. Currently, TypTap focuses on providing homeowners and flood insurance, leveraging technology developed by HCI’s subsidiary, Exzeo USA. The company's shares trade under the ticker symbol 'HCI' on the NYSE and are part of the Russell 2000 and S&P SmallCap 600 Index.

Positive

• Regulatory approval to write homeowners insurance in Nevada.
• Continued expansion into new states with approvals in seven states outside Florida.
• Technological support from HCI's subsidiary enhances operational efficiency.

Negative

• None.

TAMPA, Fla., Jan. 12, 2021 (GLOBE NEWSWIRE) -- TypTap Insurance Company, a rapidly growing, technology-driven insurance company wholly owned by HCI Group, Inc. (NYSE: HCI), has received regulatory approval to write homeowners insurance in Nevada.

The approval is part of TypTap’s planned nationwide expansion announced in August of 2020. TypTap has received approvals in seven states outside of Florida.

About HCI Group, Inc.
HCI Group, Inc. is an InsurTech company with operations in insurance, software development and real estate. HCI’s leading insurance operation, TypTap Insurance Company, currently provides homeowners insurance and flood insurance in Florida. TypTap’s operations are powered in large part by insurance-related information technology developed by HCI’s software subsidiary, Exzeo USA, Inc. HCI’s largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., provides homeowners’ insurance primarily in Florida. HCI’s real estate subsidiary, Greenleaf Capital, LLC, owns and operates multiple properties in Florida, including office buildings, retail centers and marinas.

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. HCI Group, Inc. regularly publishes financial and other information in the Investor Information section of the company’s website. For more information about HCI Group and its subsidiaries, visit www.hcigroup.com.

TypTap Company Contact:
Kevin Mitchell, President
TypTap Insurance Company
Tel (813) 405-3603
kmitchell@typtap.com   

TypTap Media Contact:
Amber Brinkley
Kippen Communications
Tel (727) 466-7695
amber@kippencommunications.com 

HCI Company Contact:
Rachel Swansiger, Esq.
HCI Group, Inc.
Tel (813) 405-3206
rswansiger@hcigroup.com

HCI Investor Relations Contact:
Matt Glover
Gateway Investor Relations
Tel (949) 574-3860
HCI@gatewayir.com

FAQ

What recent approval did HCI Group receive for TypTap Insurance?

TypTap Insurance Company received regulatory approval to write homeowners insurance in Nevada.

How many states has TypTap Insurance received approvals in?

TypTap has received approvals in seven states outside of Florida.

What is HCI's stock symbol?

HCI Group's stock symbol is 'HCI'.

What services does TypTap Insurance offer?

TypTap Insurance provides homeowners and flood insurance.

Where can I find more information on HCI Group?

More information on HCI Group can be found on their official website.