ICAT Specialty Brings Much Anticipated Residential Hurricane Product to HawaiiJuly 1, 2006

Boulder, CO - Residents of Hawaii looking for hurricane protection for their homes now have a welcome alternative. Effective immediately, ICAT Specialty Insurance Company is offering Residential Named Hurricane insurance for dwellings, apartments, town homes and condominiums.

Written on an admitted basis, this new ICAT Specialty product provides Named Hurricane coverage for policyholders with values up to $2.5 million. Dwellings and Other Structures are valued on a replacement cost basis; personal property coverage may be endorsed to reflect this coverage enhancement.

Deductible options are offered at 1%-5%, as well as 10% and 15%. Substantial premium discounts are offered for properties equipped with hurricane connectors, hurricane storm shutters and other windstorm protective devices. Other optional coverages include Ordinance or Law and Additional Property Coverage for retaining walls, pools, and fences.

"In light of the severe restrictions that exist in the Hawaii property market, it feels good to bring a quality product and a choice to the agents and residents of Hawaii", said Maureen Soranaka, ICAT's Hawaii-based Regional Vice President. "ICAT is an established and experienced catastrophe insurance underwriter with a proven claims record. And, with a staff of over 150 people, ICAT's commitment to customer service is unparalleled", she said.

ICAT Specialty was approved to underwrite Named Hurricane coverage by the Hawaii Insurance Division on May 26; the Company is rated "A" (Exceptional) by Demotech, Inc.

ICAT Specialty is a subsidiary of ICAT Holdings, LLC, a Boulder, Colorado-based company that was founded in 1998 to provide catastrophe insurance protection to businesses and residences throughout the United States. ICAT operates in 38 states and is widely viewed as a market leader in providing hurricane and earthquake coverage.