Orion180, a property insurance and surplus lines carrier founded in Melbourne, Florida, in 2016, has now started writing policies in the state where it is headquartered. And it is doing so with what appears to be an unusual strategy: Rebates on the first year of premiums for homes that stay claims-free.
Most property insurers offer some types of discounts on premiums — for wind mitigation work, bundling of policies, alarm systems, and for a lack of claims, in some cases. But actual cash equal to a full year’s premium seems to be pretty rare