Edwardsville, Illinois, April 13, 2015 – Hortica – the Florists’ Mutual Insurance Company today announced that it is in the process of negotiating a mutual affiliation arrangement with a well-respected, well-capitalized, mutual insurance company. Through an affiliation, Hortica anticipates it would receive at least an “A” (Excellent) group rating from AM Best, based on its participation in the reinsurance pool of its affiliation partner.
Mona Haberer, President and CEO of Hortica, said, “I am very glad there has been such strong interest in our organization, and now we are ready to move forward with an affiliation.” Ms. Haberer added, “Since our management team values the bond we have with our insureds and our agents
,we wanted to publicly communicate our plans to them. Our Board of Directors and our management team feel strongly that combining Hortica’s expertise and industry relationships with the resources of a well-capitalized, highly rated partner will be a win-win for everyone. As the only insurance company solely dedicated to the floral/horticultural industry, we are really looking forward to the growth opportunities an affiliation will afford us.”
Haberer said, “We want to continue to be viewed as the one-stop-shop for the horticultural industry when it comes to their insurance needs.
The additional tools and resources that Hortica will have through an affiliation will only enhance our ability to serve our niche. We are very excited about the future.”
Hortica anticipates making a joint announcement with its affiliation partner, once a transaction has been finalized.
About Hortica –The Florists’ Mutual Insurance Company
Hortica, a niche specific mutual insurance company with a rich history of over 127 years in business, serves horticultural businesses across the U.S. Founded on June 1, 1887 and initially named “Florists’ Hail Association of America,” Hortica has evolved into a comprehensive insurance company that guides and provides solutions for retail florists, garden centers, nurseries, landscape contractors, greenhouse growers, wholesale floral distributors and interior plantscapers.