NEW YORK, July 29, 2022 /PRNewswire/ — Rhino, the leading real estate technology company and pioneer in security deposit insurance, today announced its partnership with AmTrust Financial to offer 60 million dollars in premium writing capacity for their core product offering. AmTrust Financial, an international property and casualty insurer, will join Rhino’s existing panel of industry-leading insurance companies and reinsurers, increasing Rhino’s total premium underwriting capacity to more than 200 million dollars.
Rhino’s partnership with AmTrust Financial will further enhance the company’s ability to support the rapid growth and adoption of its innovative security deposit insurance solution and modernize the rental experience, making it easier and efficient for both owners and tenants.
“We are delighted to support Rhino in setting a new standard for the rental experience. Partnering with Rhino, the forerunner of security deposit insurance, is a natural fit for the customer-centric culture of AmTrust,” he said. Jeff windowEVP and Head of AmTrust North American Specialty Risk.
“As the up-front cost of renting continues to rise to unprecedented levels, renters are increasingly turning to innovative solutions, such as security deposit insurance, to remove barriers to finding affordable, quality housing,” he said. to say. Benjamin Lantos, Rhino co-founder and chief risk officer. “Rhino’s partnership with AmTrust Financial will help a growing tenant base save money and provide landlords with the financial protections they need to operate sustainable businesses.”
Rhino hit a milestone earlier this year, announcing that its security deposit insurance was offered on more than 2 million homes, saving American renters more than 800 million dollars in the initial costs of moving.
About Rhino
Rhino was founded to give renters everywhere greater financial freedom to plan and enjoy their lives. We eliminate the need for traditional security deposits by replacing them with smart, affordable insurance so renters can stay in control of their cash. Instead of a large cash security deposit up front, tenants pay Rhino a small monthly fee, and Rhino insures the property owner for damages that may occur and loss of rent. To date, we’ve been offered over 2 million homes with a network of 6 million domestic partners and have saved over 100,000 tenants. 800 million dollars in cash.
About AmTrust Financial Services, Inc.
AmTrust Financial Services, Inc., a multinational insurance company based in New York, offers property and specialty casualty insurance products including workers’ compensation, business owner’s policy (BOP), general liability and extended service and warranty coverage. With nearly 6,000 employees worldwide, AmTrust has grown to become an industry-leading insurance provider, focusing on insurance solutions for small businesses. AmTrust is rated “A-” (Excellent) with a Financial Size of “XV” by AM Best. To learn more about AmTrust, visit www.amtrustfinancial.com
SOURCE Rhino
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