A coverholder is a party that helps insurance companies write policies, collect premiums, and perform other duties in markets that are outside the insurance company's headquarters or normal territory. Coverholders play a key role in helping insurance companies expand their operations and reach new markets or regions.
As a Coverholder, HSC not only helps to expand the insurer’s market, but also brings an extensive knowledge of the local market.This includes:
· Market features
· Local regulations
· Customer preferences
This expertise allows the insurer not only to expand but to improve the odds of engaging in a commercially viable expansion.