Alteris, a holding company of specialty insurance provider Argo Group, has signed a partnership agreement with Insurent Agency to provide insurance program focused on guaranteeing residential leases in the US.
According to Alteris, the new insurent lease guaranty program will offer financial guarantees to landlords on behalf of new tenants to satisfy financial requirements associated with leasing.
The new program will offer benefits to both tenants and landlords, allowing tenants access to quality properties, and at the same time helps to reduce vacancies and rent loss, and to stabilize rental income at no cost to landlords.
The company said that new insurent lease guaranty program will be administered by Insurent Agency from its New York City headquarters, with coverage underwritten and issued by Argonaut Insurance Company.
Hilbert Schenck, president of Alteris, said: “Insurent has built a strong product that fills an important need in large cities and surrounding urban areas. We’re pleased to partner with such a talented and innovative team to deliver yet another unique insurance product to the marketplace.”