What Should I Know About Transverse Insurance Company?

On April 1, 2024, new homeowners policies in Wisconsin transitioned to carrier partner, MS Transverse. On May 6, 2024, existing policies written with Clear Blue will receive a new policy offering at the policy expiration date with Transverse Insurance Company. The coverage will remain the same. 

Current policyholders will be notified twice about the transition to Transverse Insurance Company: first, 60 days before their new policy offering effective date, and again, 30 days before the new policy offering effective date. These notifications will be sent via mail or email based on the policyholder's pre-selected preference. They will also provide instructions on the various payment methods available.

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60-Day Letter	30-Day Letter

On May 2, 2024, Openly launched in Connecticut with Transverse Insurance Company. Below are several state-specific policy details to be aware of.

• $6 million Total Insured Value (TIV): You can read more about TIV in our article, What is Total Insured Value (TIV)?
• Minimum Deductibles: For new business quoted on or after May 2, the following new minimum deductibles are in effect:
  
  • $2,500 on policies with an RCE less than $1M
  • $5,000 on policies with an RCE at or over $1M
• Optional Dwelling Coverage:  A policyholder or agent can contact us to choose to insure a dwelling at a 50% Replacement Cost Estimate (RCE). This option will remove the $5 million Guaranteed Replacement Cost (GRC) and does not provide Replacement Cost Coverage (RCC) for Coverage A, Coverage B, or Coverage C. Coverage C will be settled at Actual Cash Value (ACV) and there is not an option to purchase RCC. For more information, read our Replacement Cost Estimate, Main Dwelling (Coverage A), and Guaranteed Replacement Cost articles.
• Multi-Family Homes: Main multi-family dwellings are allowed, housing 2 to 4 families (subject to eligibility).
• The Healthy Home Fund:  This is a surcharge of $12 a year. It goes toward the Connecticut Healthy Homes Fund, established to raise up to $100 million to assist homeowners impacted by crumbling foundations in northeastern portions of the state. This surcharge is not factored into the policy premium and applies to policies on residential dwellings possessing four units or less.
• Mandatory Flood Coverage: Will be required for coastal homes with minimum hurricane deductibles. Proof of coverage from another carrier must also be uploaded to the policy after binding. To learn how to upload required documents to the Portal, see How Do I Upload a Required Document?
• Third-Party Designation: A form is used when adding Additional Interest parties to the policy for cancelation and non-renewal notifications. Once completed, the form must be submitted to the Customer Experience Team for upload to the policy documents. To download a copy of the form, see our article How Do I Update Parties on an Issued Policy?

On June 3, 2024, Openly began quoting and writing all new business in Pennsylvania with Transverse Insurance Company. Anticipated on February 10, 2025, Openly will begin transitioning qualified Pennsylvania policies to MS Transverse. The existing policies will expire with Clear Blue and eligible policyholders will be offered a new policy with MS Transverse. 

All MS Transverse policies (new business and existing business transitioning fronting carriers) will require a signed application returned within ten (10) days of the policy effective date. If not received, a cancellation with 30 days' notice will be issued.

• Policyholders are informed of this requirement in the Welcome Letter of their policy packet. Depending on their document delivery preferences, policy packets will be sent via email or mail. 
  • Policyholders who receive policies via email will also receive an application from DocuSign via email. Once executed, the application will automatically upload into the Portal under the policy's Documents tab.
  • Mailed policies will include an application. The policyholder is instructed to sign and submit it to their agent for processing.
• View this Openly Help article for instructions on generating an electronic application or uploading an application.

Coverage changes

Policyholders can continue to expect excellent comprehensive coverage with the following changes to MS Transverse policies:

• Minimum Deductibles: The following new minimum deductibles are in effect:
  • $2,500 on policies with an RCE less than $1M
  • $5,000 on policies with an RCE at or over $1M
• Wind / Hail Roof Coverage: A Roof Payment Schedule will apply to roofs 15 years and older. A schedule determines the replacement cost percentage applied to a covered roof loss due to damage caused by wind or hail. Roofs 14 years and newer are still eligible for 100% Replacement Cost coverage. For more information, view this Openly Help article.

Policies transitioning from Clear Blue to MS Transverse

All policyholders will be sent a Non-renewal Notice by mail 68 days before their Clear Blue policy expires. The notice will specify if they are being offered a new policy with MS Transverse. Agents will also receive a copy of the notice. 

Policyholders who are being offered a new policy with MS Transverse will receive the policy offering via mail 60 days before their current policy expiration. A letter reminding the policyholder of the actions required to accept the policy will be sent 30 days following.

Expiring policies that will not be offered a new policy with MS Transverse will appear on the Non-Renewals Dashboard. We strive to provide advanced notice to agents before the Non-renewal Notice is sent to policyholders, allowing for ample time to remarket policies. 

Policies expiring and receiving a new offer with MS Transverse will not appear on the Renewals Dashboard. You can view and manage these policies by clicking on the expiring Clear Blue policy within the Agent Portal. Seven (7) days after the date on the Non-renewal Notice, a blue banner will display with the new MS Transverse policy number.

If your client is billed directly, they should submit payment to Openly with the new policy number found on their policy documents, beginning with TCPN. If the premium is billed to the mortgage company, the change in policy number will be communicated to the lender.

If your client was previously set up on autopay, they have been instructed to contact your agency to reauthorize their payment information and make a payment for the new policy offering. They are also being sent an invoice directly, which they can pay and forgo re-enrolling in autopay.

• To re-enroll your client on autopay, you must change the payment method to either EFT or credit card in the Portal and process the payment.
• An authorization form will then be sent to them via mail or email based on their document delivery preferences.
  • If the insured receives the form electronically, it will automatically upload to the Portal once completed.
  • If the insured receives the form by mail, they must submit it to you to upload in the Portal. View this article for more information.

On July 1, 2024, Openly launched in Virginia with Transverse Insurance Company.

Below are several state-specific policy details to be aware of. Read here for state disclosures.

• Signed Application: All new policies with Transverse Insurance Company require a signed application returned within ten (10) days of the policy's effective date. Openly will send the policyholder a cancellation letter with 30 days' notice if not received. For instructions on generating an electronic application or uploading an application with a wet signature, view this Openly Help article.
• Minimum Coverages: There are state-required minimum coverages based on the Replacement Cost Estimate (RCE). Coverage B will be 10%, Coverage C will be 50%, and Coverage D will be 20%. These will be shown as the lowest options on the coverage sliders.
• Wind / Hail Deductible: The Wind / Hail deductible will be initially the same as the Hurricane deductible when quoting. And both may be subject to a minimum deductible ($5,000 or $10,000, depending on the coastal zone). Read more about the Wind / Hail deductible here and the Hurricane deductible here.
• Deductibles: The Standard Perils, Wind / Hail, and Hurricane deductibles cannot exceed 10% of the Replacement Cost Estimate (RCE).
• Wind / Hail Roof Coverage: Roof Settlement will be Replacement Cost exclusively. Read more about Roof Settlement here.
• Home-Sharing: Home-sharing will be unavailable on the HO-3.
• Exotic Animals: An exotic animal may be owned, and coverage placed with Openly. See our article, Is Openly OK With Horses and / or Other Animals?, for further information.
• Windstorm Mitigation Discount: We will offer a Windstorm Mitigation Discount. Read more about Windstorm Mitigation here.
• Information Requests: Insurance applicants who do not qualify for coverage with Openly can send a written request for the specific reason and supporting information. They can also request access to, or correction, amendment, or deletion of their information and details about the information sources. See our article, Why Does My Quote Say “Does Not Qualify?” for further information.

On August 5, 2024, Openly launched in Delaware with Transverse Insurance Company. Below are several state-specific policy details to be aware of. Read here for state disclosures.

• Signed Application: All new policies with Transverse Insurance Company require a signed application returned within ten (10) days of the policy's effective date. Openly will send the policyholder a cancellation letter with 30 days' notice if not received. For instructions on generating an electronic application or uploading an application with a wet signature, view this Openly Help article.
• $6 million Total Insured Value (TIV): $6 million Total Insured Value (TIV), which you can read more about in our article, What is Total Insured Value (TIV)?
• Minimum Deductibles: For new business quoted on or after August 5, the following new minimum deductibles are in effect:
  
  • $2,500 on policies with an RCE less than $1M
  • $5,000 on policies with an RCE at or over $1M
• Wind / Hail Deductible: The Wind / Hail Deductible for homes in coastal zones will be set in dollars. Coastal Zones 1-3 will have a minimum deductible of $10K, and Coastal Zone 4 will have a minimum deductible of $5K.

• Hurricane Deductible: The Hurricane Deductible for homes in coastal zones will be set in dollars. Coastal Zones 1-2 will have a minimum deductible of $25K, Coastal Zone 3 will have a minimum deductible of $10K, and Coastal Zone 4 will have a minimum deductible of $5K.

• Wind / Hail Roof Coverage: Coverage for roof settlement will automatically populate with Replacement Cost, but the Roof Payment Schedule can be endorsed. Read more about Wind / Hail roof settlement here.
• Home-Sharing: Home-sharing will be available on the HO-3.
• Information Requests: Insurance applicants who do not qualify for coverage with Openly can send a written request for the specific reason and supporting information. They can also request access to, or correction, amendment, or deletion of their information and details about the information sources. See our article, Why Does My Quote Say “Does Not Qualify?” for further information.

On October 31, 2024, Openly began quoting all new business in Oklahoma using our new fronting carrier partner, MS Transverse. Anticipated on January 21, 2025, Openly will begin transitioning expiring Oklahoma policies to MS Transverse. 

All MS Transverse policies (new business and existing business transitioning fronting carriers) will require a signed application returned within ten (10) days of the policy effective date. If not received, a cancellation with 30 days' notice will be issued.

• Policyholders are informed of this requirement in the Welcome Letter of their policy packet. Depending on their document delivery preferences, policy packets will be sent via email or mail. 
  • Policyholders who receive policies via email will also receive an application from DocuSign via email. Once executed, the application will automatically upload into the Portal under the policy's Documents tab.
  • Mailed policies will include an application. The policyholder is instructed to sign and submit it to their agent for processing.
• View this Openly Help article for instructions on generating an electronic application or uploading an application.

Coverage changes

Policyholders can continue to expect excellent comprehensive coverage with the following changes:

• Minimum Deductibles: The following new minimum deductibles are in effect:
  • On policies with an RCE of less than $1M:
    • All other perils (AOP) will be $2,500
    • Wind / Hail will be $10,000
  • On policies with an RCE at or over $1M:
    • All other perils (AOP) will be $5,000
    • Wind / Hail will be $20,000
• Wind / Hail Roof Coverage: A Roof Payment Schedule will apply to roofs 11 years and older. A schedule determines the replacement cost percentage applied to a covered roof loss due to damage caused by wind or hail. Roofs ten (10) years and newer are still eligible for 100% replacement cost coverage. For more information, view this Openly Help article.
• $6 million Total Insured Value (TIV): Which you can read more about in our article, What is Total Insured Value (TIV)?
• Home-sharing: Home-sharing will be available on the HO-3.

Policies transitioning from Clear Blue to MS Transverse

All policyholders will be sent a Non-renewal Notice by mail 68 days before their Clear Blue policy expires. The notice will state they are being offered a new policy with MS Transverse. Agents will also receive a copy of the notice. 

The policy offering will follow 60 days before their policy expiration via mail or email, depending on the policyholder's preference for document delivery. A letter reminding the policyholder of the actions required to accept the policy will be sent 30 days following. 

Policies expiring and receiving a new offer with MS Transverse will not appear on the Renewals Dashboard. You can view and manage these policies by clicking on the expiring Clear Blue policy within the Agent Portal. Seven (7) days after the date on the Non-renewal Notice, a blue banner will display with the new MS Transverse policy number.

If your client is billed directly, they should submit payment to Openly with the new policy number found on their policy documents, beginning with TCPN. If the premium is billed to the mortgage company, the change in policy number will be communicated to the lender.

If your client was previously set up on autopay, they have been instructed to contact your agency to reauthorize their payment information and make a payment for the new policy offering. They are also being sent an invoice directly, which they can pay and forgo re-enrolling in autopay.

• To re-enroll your client on autopay, you must change the payment method to either EFT or credit card in the Portal and process the payment.
• An authorization form will then be sent to them via mail or email based on their document delivery preferences.
  • If the insured receives the form electronically, it will automatically upload to the Portal once completed.
  • If the insured receives the form by mail, they must submit it to you to upload in the Portal. View this article for more information.