International Catastrophe Insurance Managers, L.L.C.

International Catastrophe Insurance Managers, L. L. C. focuses on providing specialized catastrophe insurance solutions for businesses and homeowners in the United States, particularly in areas prone to natural disasters.

Founded in 1998 and headquartered in Broomfield, US, International Catastrophe Insurance Managers, L. L. C. offers catastrophe insurance catering to disaster-prone regions.

The company underwent a significant change in ownership when Victor O. Schinnerer & Company, Inc. acquired it from Paraline Group, Ltd. in September 2017.

The firm has completed a total of three deals since its inception. ICAT specializes in providing comprehensive catastrophe insurance solutions tailored for businesses and homeowners in disaster-prone areas across the United States. Their core offerings include All Other Perils coverage for commercial property owners, Commercial Earthquake coverage for clients in the Western United States and New Madrid states, as well as specialized homeowners insurance for coastal properties. The company’s products are particularly designed to address risks associated with hurricanes, wind, hail, and earthquakes, ensuring that clients can secure their properties against these threats.

ICAT serves a diverse client base exceeding 50,000 insureds, including both commercial clients and individual homeowners, particularly targeting regions such as the Gulf Coast, Florida, the Eastern Seaboard, and Hawaii. ICAT generates revenue primarily through the sale of insurance policies to businesses and homeowners, leveraging a direct-to-consumer model as well as partnerships with brokers and agents. The company implements a structured transaction process involving the underwriting and issuance of catastrophe insurance policies, which are priced based on various risk factors associated with the insured properties. Revenue is also supported by Boulder Claims, a subsidiary that provides claims services for policies underwritten by ICAT, facilitating the adjustment and settlement of claims efficiently.

The company emphasizes its commitment to customer service, which enhances client retention and satisfaction, thereby contributing to ongoing revenue generation through repeat business and policy renewals. In the wake of its acquisition, ICAT is looking to enhance its product offerings by developing new insurance products tailored for emerging disaster risks, with plans for a rollout by 2019. The company aims to expand its market presence into additional states along the Eastern Seaboard and parts of the Midwest by 2020, focusing particularly on states vulnerable to severe weather events. The recent acquisition funding will be utilized to support these growth initiatives, helping to solidify ICAT's position in the catastrophe insurance market.