Zephyr Insurance Company

What Zephyr Insurance Company does

Zephyr Insurance Company, Inc. is a property-casualty insurance carrier headquartered in Honolulu, Hawaii, specializing in residential hurricane and windstorm coverage. Founded in 2000 following the post-Hurricane Iniki (1992) insurance crisis and the subsequent wind-down of the Hawaii Hurricane Relief Fund, Zephyr operates as Hawaii's only dedicated hurricane insurance carrier. Since 2016 it has been wholly owned by Heritage Insurance Holdings, Inc. (NYSE: HRTG), a publicly traded insurance group that also owns Heritage Property and Casualty and Naragansett Bay Insurance Company.

The company's product portfolio centers on a primary hurricane windstorm policy whose coverage activates when a hurricane watch or warning is issued by the Central Pacific Hurricane Center. This is complemented by standard homeowners (HO3), condo (HO6), and tenants (HO4) policies, plus optional endorsements such as Personal Property Replacement Cost, Economic Demand Surge, and extended Ordinance or Law coverage. Underlying technology is standard insurance infrastructure — a customer payment portal, online claims filing, and agent communication systems — with no proprietary platforms, APIs, or AI/ML capabilities disclosed. Claims handling is outsourced to a network of third-party catastrophe adjusting firms including Crawford & Company, Sedgwick, McLarens, MAS Solutions, and TSI Adjusters.

Zephyr's business model is recurring annual premiums written through a distribution channel of over 80 appointed independent and captive insurance agencies across all major Hawaiian islands; the company does not sell direct to consumers. Pricing is filed with and approved by the State of Hawaii Insurance Division, with premium credits available for wind mitigation devices and loyalty. The company holds a Demotech "Exceptional" Financial Stability Rating and serves Hawaii homeowners, condo owners, and renters as its sole end-customer base, making it a geographically concentrated, single-peril specialist within a publicly traded parent group.

Name

Zephyr Insurance Company

Legal name

Zephyr Insurance Company, Inc.

Website

https://zephyrins.com

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Short description

Zephyr Insurance Company is a Honolulu-based property-casualty carrier that writes residential hurricane and windstorm coverage exclusively in Hawaii through 80+ appointed agents, and is wholly owned by Heritage Insurance Holdings (NYSE: HRTG).

Ownership category

akta.pro rank

Product category

Hurricane & Residential Property Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Condominium (HO-6) Insurance (FSAJACAC)

Keywords

• Hurricane insurance coverage
• Property insurance Hawaii
• Homeowners insurance policies
• Windstorm insurance coverage
• Residential property insurance

Headquarters

HQ city

Honolulu

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Hurricane Insurance Premiums: Annual insurance premiums collected from policyholders for hurricane/windstorm coverage. Premium rates are determined by variables including construction class, year built, amount of coverage, and retrofitting. Premiums are fully earned on an annual basis to ensure proper compensation for hurricane exposure.
2. Homeowners Insurance (HO3): Annual premiums for HO3 homeowners policies covering single-family homes, townhouses, and duplexes that are owner-occupied. Covers perils such as fire, lightning, theft, personal liability, and personal property.
3. Condo Insurance (HO6): Annual premiums for condominium unit owners and tenants, covering loss assessments, contents, and building items inside the condo unit.
4. Tenants Insurance (HO4): Annual premiums for renters insurance covering contents of policyholders in rented residences.
5. Optional Endorsements and Coverage Extensions: Additional premium revenue from optional coverages including Personal Property Replacement Cost, Economic Demand Surge, additional Ordinance or Law limits, jewelry limits, dog liability, identity theft, and personal injury coverage.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels4 records

Core offering

Zephyr Insurance Company is a Hawaii-focused property and casualty insurer that underwrites residential hurricane/windstorm insurance, supplemented by standard homeowners (HO3), condo (HO6), and tenants/renters (HO4) policies. Coverage activates when the Central Pacific Hurricane Center issues a hurricane watch or warning and is distributed exclusively through a network of over 80 appointed independent and captive insurance agents across the Hawaiian Islands.

Product overview

Zephyr Insurance Company offers a focused insurance portfolio centered on hurricane coverage for Hawaii homeowners. The core product is Hurricane Insurance, a specialized windstorm-hurricane policy activated during hurricane watches/warnings that provides Dwelling Building, Other Structures, Personal Property, and Loss of Use coverage. This is complemented by Homeowners HO3, Condo HO6, and Tenants HO4 Renters insurance policies covering standard perils. Zephyr's offering includes multiple optional endorsements such as Personal Property Replacement Cost, Economic Demand Surge, and extended Ordinance or Law coverage, as well as premium credits for wind mitigation devices, building code compliance, and loyalty. The company operates exclusively through a network of over 80 appointed independent and captive insurance agents across Hawaii's islands, with customer-facing payment portal and online claims filing capabilities. Flood insurance is noted as not currently offered.

Differentiator

Problem solved

Functional benefit

Products and services

• Hurricane Insurance (Windstorm Policy) Primary windstorm-hurricane insurance product for Hawaii homeowners. Coverage activates when a hurricane watch or warning is issued by the Central Pacific Hurricane Center and covers Dwelling Building (Coverage A), Other Structures (Coverage B), Personal Property (Coverage C), and Loss of Use/Fair Market Rent (Coverage D).
• Homeowners HO3 Insurance Policy Standard homeowners insurance for owner-occupied single-family homes, townhouses, and duplexes. Covers most perils including fire, lightning, theft, personal liability, medical payments, loss of use, personal property, and other structures.
• Condo HO6 Insurance Policy Condominium unit insurance policy covering loss assessments, contents, and permanently attached building items inside the condo unit. Supplements typical condo association master policies that cover common areas only.
• Tenants HO4 Renters Insurance Policy Renters insurance policy providing coverage for contents of policyholders in rented residences, with optional replacement cost on personal property and identity theft protection.
• Online Claims Filing Online claim submission system allowing policyholders to file hurricane insurance claims through a web-based portal, processed in coordination with third-party catastrophe adjusting firms (Crawford & Company, Sedgwick, McClarens, MAS Solutions, TSI Adjusters).
• Customer Payment Portal Self-service online payment portal allowing registered policyholders (policy numbers begin with 'HIW' or 'HIH' followed by 7–8 digits) to make payments, manage policies, and access billing information.

Quantifiable outcome

• 10-15% premium savings with wind mitigation devices
• +1 more outcomes

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Partnerships

Five partnerships are on record, tiered core.

• Crawford and CompanycoreImplementation/ SI/ Consulting PartnerCrawford & Company is one of the third-party adjusting companies that Zephyr works with to handle hurricane claims. They specialize in catastrophe claims and monitor storm activity throughout the year, ready to deploy numerous adjusters to work through the assessment process.
• Sedgwick Claims ServicescoreImplementation/ SI/ Consulting PartnerSedgwick Claims Services is a third-party adjusting company partnered with Zephyr for hurricane claims handling. They specialize in catastrophe claims and are prepared to deploy adjusters to work swiftly and thoroughly through the assessment process following hurricanes.
• McClarenscoreImplementation/ SI/ Consulting PartnerMcClarens is a third-party adjusting company that Zephyr partners with for catastrophe claims services. They monitor storm activity and are ready to deploy adjusters to assess hurricane damage.
• MAS SolutionscoreImplementation/ SI/ Consulting PartnerMAS Solutions is one of the third-party adjusting companies that Zephyr works with to handle hurricane claims. They specialize in catastrophe claims and work with Zephyr to provide outstanding claims services.
• TSI AdjusterscoreImplementation/ SI/ Consulting PartnerTSI Adjusters is a third-party adjusting company partnered with Zephyr for hurricane claims processing. They specialize in catastrophe claims and are prepared to deploy adjusters following hurricane events.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Allstate: Major national personal lines property and casualty carrier offering homeowners and hurricane coverage in Hawaii through its captive agents (which also sell Zephyr policies). Competes in the same homeowner/hurricane categories but as part of a much broader portfolio.
• State Farm: Largest U.S. personal lines insurer offering homeowners and hurricane coverage nationally, including Hawaii through its captive agent network. Operates as a broad incumbent with overlapping products but at vastly greater scale and geographic diversification.
• Liberty Mutual: National property and casualty insurer offering homeowners and personal property insurance, including hurricane-exposed geographies. Provides overlapping coverage categories as a broad incumbent rather than a hurricane specialist, competing on scale and bundling.

Regional players

• Texas Windstorm Insurance Association: Texas residual market windstorm insurance association providing residential and commercial windstorm coverage along the Texas coast. Comparable as a windstorm-focused residential insurer, though operating exclusively in Texas geography.
• Citizens Property Insurance Corporation: Florida's state-backed residual market insurer of last resort for residential property, including hurricane/windstorm coverage. Highly comparable as a windstorm-exposed residential carrier, but operating in Florida rather than Hawaii geography.

Direct peers

• Island Insurance: Hawaii-based property and casualty insurance carrier offering residential and commercial coverage. Direct competitor in the Hawaii residential property insurance market, including hurricane and homeowners products, with overlapping distribution through independent agents.
• Narragansett Bay Insurance Company: Sister company under Heritage Insurance Holdings (NYSE: HRTG) writing homeowners insurance in northeastern U.S. states. Closely comparable as a personal property carrier within the same parent group, offering similar homeowners policies to Zephyr's HO3 product.
• First Insurance Company of Hawaii: Hawaii's largest locally headquartered property and casualty insurer, offering homeowners, condo, and renters policies across the state. Direct competitor for residential property insurance in Hawaii, with overlapping customer segments and distribution through independent agents.
• Heritage Property and Casualty Insurance: Sister company under Heritage Insurance Holdings (NYSE: HRTG) providing homeowners and property insurance across the U.S. Eastern seaboard. Directly comparable as a personal lines property carrier within the same parent portfolio, with similar product structure and underwriting approach.
• Tokio Marine Hawaii: Hawaii-based subsidiary of Tokio Marine Group offering residential property and casualty insurance on the islands. Competes directly with Zephyr for homeowners, condo, and hurricane coverage in the same Hawaii geography, leveraging the global Tokio Marine brand.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/zephyr-insurance-co-inc

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zephyr Insurance Company