Emerald Bay, Brown & Brown unit launch commercial quake facility

Specialty insurer Emerald Bay Risk Solutions LLC said Thursday it would launch a commercial earthquake facility with Arrowhead General Insurance Agency Inc., a subsidiary of Daytona Beach, Florida-based Brown & Brown Inc.

Arrowhead EQ DIC will provide difference in conditions insurance policies for medium to large businesses, primarily in California and the Pacific Northwest, offering more than $250 million in capacity.

The facility is backed by a group of undisclosed primary reinsurers rated A- or better by A.M. Best Co. Inc.

Emerald Bay launched earlier this year with a strategic investment from Bain Capital Insurance, the dedicated insurance investing unit of Bain Capital LLC.