ICAT Specialty Appointed Servicing Carrier for Florida PCJUA Wind/Hail Coverage Now Available for Small Commercial Insureds

September 18, 2006

Tampa, FL - The Florida Office of Insurance Regulation appointed ICAT Specialty Insurance Company ("ICAT") as the first Servicing Carrier for the newly activated Property and Casualty Joint Underwriting Association (PCJUA). Governor Jeb Bush and the Florida Cabinet approved an Emergency Rule which activated the PCJUA in order to provide commercial property insurance for small Florida businesses that are unable to find wind/hail coverage in the admitted or surplus lines insurance markets.

Under the PCJUA Program, ICAT will qualify and provide quotes to Florida agents through ICAT's proprietary internet-based platform. Once agents enter risk information into ICAT's online system, the risks will be submitted by ICAT to the Florida Market Assistance Program (FMAP). In the event the voluntary market does not bind coverage through FMAP, ICAT will bind coverage, conduct physical inspections, and administer the policies and claims on behalf of the PCJUA. Coverage is available for structures with values up to $1 million. Contents and Business Interruption coverages are also available.

"We are very pleased to work with the Office of Insurance Regulation and the PCJUA to develop an insurance solution for Florida's small commercial business owners," commented Ed Kelly, President of ICAT. "ICAT's state of the art technology platform provides real-time quoting capability to Florida agents and brokers who are unable to find wind/hail coverage in the voluntary market for their clients during this Hurricane season."

ICAT began processing agent appointments on September 1, and accepting insurance applications beginning September 15.

Tampa-based ICAT Specialty is an affiliate of ICAT Managers, LLC, a Boulder, Colorado-based agency founded in 1998. A leader in catastrophe risk underwriting, ICAT Managers is among the 100 largest insurance brokerage firms in the nation. ICAT Managers provides wind/hail coverage for Florida, the Gulf Coast, the Eastern seaboard and Hawaii, as well as earthquake coverage throughout the western and mid-western United States.