Anchor Property & Casualty Insurance Company
Carrier website links, underwriting access points, mapped product lines, and appetite notes in one place.
This appetite summary is only a guide. Confirm eligibility, submission requirements, restrictions, and binding authority directly with the carrier or underwriter before relying on it.
Carrier appetite summary
Program overview / target risk: - Florida personal residential property program designed for well-maintained homes showing clear pride of ownership and superior maintenance standards. - Risks must comply with all underwriting rules in the manual; additional rules may apply to certain endorsements or optional coverages. Eligible forms & basic coverage structure: - HO-3: Replacement cost on the dwelling; personal property covered at ACV unless optional replacement cost is purchased. - HO-6: Replacement cost on additions/alterations not the association’s responsibility; personal property at ACV unless optional replacement cost is purchased. - HO-4: Replacement cost on tenant improvements/betterments; personal property at ACV unless replacement cost is purchased. - Liability limits: typically $100,000, $300,000, or $500,000 with specified valid medical payments combinations. $500,000 liability option generally requires prior company approval. Binding authority & producer responsibilities: - Producers may NOT bind any ineligible risk; each application must be reviewed for eligibility prior to binding. - Producer binding authority is limited to 30 days and must stay within eligibility and binding limits specified in Anchor rate and underwriting manuals. - A binder must clearly state the exact effective hour, day, month, and year. No binder may be effective before: (a) completion of the proper application, (b) receipt of required deposit premium, and/or (c) the insured’s formal request for coverage changes. - All endorsement requests must be mailed/submitted within 5 business days of binding or the effective date may be adjusted to date received. - Binding is always subject to acceptance under Anchor’s Exposure Management Plan. - Policies may not be bound with coverage less than full replacement cost without prior company approval. - Protection class 10 risks may not be bound without prior approval from Anchor underwriting. Catastrophe / hurricane binding moratorium: - NO new business, coverage increases, or deductible reductions may be bound, written, or issued—and no monies accepted—whenever a Tropical Storm or Hurricane Watch or Warning has been issued by the National Weather Service for any part of Florida. - The moratorium remains in effect until 48 hours after the Watch/Warning is lifted statewide. - Agents must confirm binding availability via Anchor customer service or the Anchor website when storms are present. Preferred business characteristics (implied by program design): - Well-maintained primary residences displaying clear pride of ownership, in good repair, and meeting replacement cost standards and company exposure management criteria. - Risks in acceptable protection classes (non-PC 10, unless pre-approved) and consistent with Anchor’s catastrophe exposure management. Restricted / declined risks (high level where specified): - Any risk that is ineligible under the manual is not to be bound by agents; underwriting retains discretion on final eligibility. - PC 10 risks require prior underwriting approval and may not be bound by agents on their own. - Policies written at less than full replacement cost require prior approval and therefore are restricted relative to standard preferred risks. - New writings or increases during a Tropical Storm/Hurricane Watch/Warning (statewide) are strictly prohibited. Geographic notes: - Program is Florida-specific; special hurricane/tropical storm binding rules apply to any event affecting any part of the state. - Exposure Management Plan may restrict writings by territory, coastal proximity, or concentration even if a risk otherwise appears eligible (agents should not assume availability without checking binding authority and exposure management messages). Submission & documentation expectations: - For new business and endorsements, application must be fully completed before any binding; deposit premium must be obtained according to company requirements. - Endorsement requests must be remitted within 5 business days to preserve the requested effective date. - All risks are subject to review under the Exposure Management Plan and other detailed eligibility rules elsewhere in the manual (construction, age of home, roof, occupancy, prior loss history, etc.). Agents should consult the full manual when assessing eligibility. Broker / producer instructions & notes: - Agents are responsible for verifying eligibility and complying with all manual rules before binding. - Binding authority may not be exceeded under any circumstances; ineligible or restricted risks must be referred to Anchor underwriting for a decision. - For any borderline or unclear situation, producers are instructed to contact an Anchor underwriter for guidance before binding. - Anchor is not required to provide coverage in excess of replacement cost to satisfy lender requirements (Florida Statute 626.9551 and related administrative rule are cited); agents should manage lender expectations accordingly. Operational takeaways for front-line underwriting/placement: - Treat the program as a preferred Florida homeowners market focused on well-maintained, pride-of-ownership risks written at replacement cost. - Never bind PC 10, less-than-replacement-cost, or borderline-exposure risks without prior underwriting approval. - Follow the hurricane/tropical storm moratorium strictly: no new or expanded coverage from first Watch/Warning anywhere in Florida until 48 hours after it is fully lifted. - Ensure all applications are complete and deposit premium collected before binding; submit all endorsements within 5 business days. - Escalate any uncertainty about eligibility, coverage limits, or high exposure territories to an Anchor underwriter before issuing indications or binding coverage.