June 10, 2020

Dear MPG Brokers:

I am excited to announce that Vault is now offering admitted paper for their High Net Worth Personal Lines products in Rhode Island. Vault also has non-admitted paper available for homes that do not belong in the admitted marketplace.

Here are some bullet points for the Vault’s appetite in the Northeast:

  • Minimum coverage A replacement cost is $1M. If multiple homes are insured, lesser values can be considered as long as at least one home is valued at $1M or greater.
  • No elevation certificates are required.
  • Coastal primary & secondary homes will be considered, even on the islands.
  • Monoline primary & secondary homes including long-term & short- term RTO locations (Airbnb & VRBO).
  • No hurricane deductible required, although Vault can provide options upon request.
  • Vault’s E&S contract, claims adjusters and inspectors are the same as their admitted.
  • Quoting is easy – Send MPG an ACORDs, dec pages, MPG’s Quote Sheet or even email write ups. Submissions should be sent to PCSapps@maritimepg.com.
  • Vault’s risk consulting will review current appraisals to consider reducing coverage A limits on accounts believed to be overvalued. In most cases inspections can be waived so not to disturb the client and to avoid incurring inspections fees.
  • Monoline homes will be considered, even if other locations and lines are with another carrier.
  • Vault and MPG will handle taxes and filings.
  • Policies are direct bill to the client.

For additional information on Vault and MPG’s other High Net Worth personal lines carriers, please contact Brian Botwinick, bbotwinick@maritimepg.com or Tim Boyle, tboyle@maritimepg.com.

Best regards,

Damon Pesce – VP Business Development




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