Hawaii gets another Hurricane Insurer

Stonington Insurance Co. will begin selling hurricane insurance in Hawaii, according to a Monday press release from Hawaii Insurance Commissioner J.P. Schmidt. Stonington also will sell homeowner and condominium owner insurance coverage. “We’ve had a limited number of companies willing to write hurricane coverage in the past few years as each company is required to maintain adequate reserves to cover their potential losses in the event of a hurricane,” explained Schmidt. Stonington is an indirect wholly owned subsidiary of RenaissanceRe Holdings Ltd. (NYSE: RNR), based in Bermuda. RenaissanceRe Holdings Ltd. is a global provider of reinsurance.