August 6, 2024
Arden Insurance Services LLC, a managing general agent (MGA) specializing in insurance for residential condominium associations, has partnered with Green Shield Risk Solutions, a Chicago-based catastrophe risk mitigation specialist, to address the escalating wildfire risk. The collaboration complements Arden’s tech-forward strategy of leveraging cutting-edge data and analytics to comprehensively evaluate risk in wildfire-prone areas. Additionally, the partnership allows Arden to introduce differentiating risk mitigation strategies to those brokers and clients looking for guidance on improving structural resiliency.
“Our partnership with Arden represents a notable step forward in our mission to help protect communities from the devastating impact of wildfires,” said Patrick Blandford, Green Shield’s Founder and CEO. “We’re excited that they have chosen our state-of-the-art wildfire analytics to supplement their best-in-class underwriting platform.”
Blandford added that environmental factors are driving the rapid escalation of wildfire severity and frequency, necessitating new and innovative approaches to wildfire underwriting and proactive mitigation.
“Ultimately, we believe that exposure to extreme weather doesn’t make a property uninsurable, just worthy of expert attention,” he said. “Green Shield’s insights delve deeper than a traditional risk score, enabling underwriters to navigate the wildfire risk landscape and identify properties that are good risks in what are traditionally considered challenging geographic regions. Working together, we’re helping Arden better understand the realities of the wildfire exposure they are proactively looking to manage.”
“Arden is excited to collaborate with Green Shield and incorporate their expert analytics into our underwriting process,” said Brian Cohen, Co-founder and CEO of Arden. “We focused on taking a differentiated approach to wildfire risk since we first entered the California market in 2016. In 2023, we launched our Wildfire Exposed Product. Today, through our partnership with Green Shield, we can provide our clients with not only differentiated insurance protection, but also the knowledge and resources to prevent and mitigate their wildfire risk.”
Cohen said that the key aspects that set Arden apart include the depth of the company’s underwriting knowledge, its niche focus on residential condominium associations, and its progressive approach to managing risk.
“Green Shield naturally aligns with those differentiating elements, allowing Arden to provide comprehensive solutions to our broker partners in a property market that has tried to avoid brush-exposed risk,” Cohen added. “In the end, we expect Green Shield’s property-level insights to complement our already comprehensive analysis of wildfire-exposed risks, enabling us to meet the needs of residential condominium associations perceived to be exposed to wildfire risk.”
About Arden Insurance Services
Arden Insurance Services LLC is a specialty managing general underwriter/agency focused on residential condominium associations. Our business model is built around product-specific expertise, and proprietary underwriting and rating methodologies. This is reflected in the knowledge and acumen of our team and our use of state-of-the-art data analytics and technology.
About Green Shield Risk Solutions
Green Shield Risk Solutions is a managing general agent that combines industry-leading wildfire data and analytics, risk mitigation and insurance solutions to help clients better understand natural catastrophe exposure at a property and portfolio level. Backed by an experienced team of risk mitigation specialists, we prescribe the necessary measures to enable insurers, policyholders, and communities minimize that risk. Green Shield also offers select retail agents a mechanism to tap into specialized excess and surplus (E&S) markets and parametric coverage via our wholesale business. In 2024, we anticipate our own capacity for insuring both residential and commercial property in catastrophe-prone states.
Media Contact:
Joshua Clifton
Head of Marketing & Communications
joshua.clifton@greenshieldrisk.com
