TypTap Insurance Company Receives Approval to Write Homeowners Insurance in Six Additional States as Part of Nationwide Expansion Plan

Rhea-AI Summary

Tamapa, Fla., Dec. 16, 2020 - TypTap Insurance Company, owned by HCI Group (NYSE: HCI), has received regulatory approval to offer homeowners insurance in six states: Indiana, Mississippi, Montana, South Carolina, South Dakota, and Utah. This approval is part of TypTap's strategic nationwide expansion plan that was previously announced in August 2020. HCI Group operates in insurance, software development, and real estate, with TypTap primarily providing homeowners and flood insurance, especially in Florida.

Positive

• Regulatory approval to write homeowners insurance in Indiana, Mississippi, Montana, South Carolina, South Dakota, and Utah.
• Strategic nationwide expansion plan.

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• None.

TAMPA, Fla., Dec. 16, 2020 (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 the states of Indiana, Mississippi, Montana, South Carolina, South Dakota, and Utah.

The approvals are part of TypTap’s planned nationwide expansion announced in August.

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, is a rapidly growing, technology-driven insurance company, which provides homeowners insurance and flood insurance primarily 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 states has TypTap Insurance Company received approval to operate in?

TypTap Insurance Company has received regulatory approval to offer homeowners insurance in Indiana, Mississippi, Montana, South Carolina, South Dakota, and Utah.

When was the nationwide expansion plan for TypTap announced?

The nationwide expansion plan for TypTap Insurance Company was announced in August 2020.

What is HCI Group's stock symbol?

HCI Group's stock symbol is 'HCI' and it is traded on the New York Stock Exchange.