Kettle partners with RLI to roll out parametric wildfire cover

Bermuda-based parametric re/insurer Kettle has teamed up with US specialty insurer RLI to launch a multi-peril commercial property product incorporating wildfire coverage, aimed at addressing growing protection gaps in underserved regions.

The non-admitted product provides comprehensive protection, including wildfire and all other perils (AOP), for commercial properties in regions where coverage has become increasingly difficult to obtain. 

Initially, the programme will focus on the California and Nevada commercial property markets and will be available through a select group of wholesale brokers.

RLI subsidiary Mt Hawley Insurance Company will underwrite coverage. 

“Kettle’s mission is to leverage data and artificial intelligence to better protect people and businesses from the growing threat of climate change,” said Kettle CEO Isaac Espinoza. “This partnership combines our advanced AI and deep learning models for catastrophic risk with RLI’s financial strength, commercial property insurance expertise and superior customer service.”  

As part of the partnership, RLI has also made an equity investment in Kettle, a managing general agency backed by Bermuda and London re/insurers.  

“Kettle brings a differentiated offering to the market through its proprietary risk modelling, offering an innovative approach to wildfire underwriting that complements RLI’s existing commercial property solutions,” said RLI Corp chief operating officer Jen Klobnak. “This distribution partnership, along with our investment, reflects RLI’s confidence in Kettle’s team and technology, and our shared commitment to delivering sustainable insurance solutions in underserved markets.”  

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