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August 22, 2018

High-Net Worth Insurer Vault Enters South Carolina

Vault, an insurer focused on the high net-worth personal insurance market, has officially opened for business in South Carolina.

Vault offers insurance coverage and services for high-value homes, art, jewelry, cyber and personal excess liability coverage. Vault’s business model, built on agent feedback, offers these products through one transaction on a web platform that offers quick quote and binding.

According to Stacy Warren, chief experience officer at Vault, the company has also hired Ben Hipp, an established South Carolina insurance professional, and Nicole Lindeman, a personal lines underwriting professional who specializes in the high net-worth segment.

Founded in 2017 by former AIG executives, Vault is a combination of a policyholder-owned reciprocal insurance exchange focused on serving the unique, fast-changing needs of the affluent. Vault is majority-owned and supported by Allied World Assurance Co. Holdings, GmbH. Allied World, a Fairfax company, provides significant capital and operational support to Vault.

Vault is the marketing name used to refer to Vault Reciprocal Exchange, a Florida-domiciled reciprocal insurance exchange managed by Vault Risk Management Services, LLC as its attorney-in-fact and its affiliates.