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Victor Insurance Exchange

An innovative insurance company created by ICAT and Victor to deliver additional capacity and stronger insurance offerings for ICAT policyholders.

Victor Insurance Exchange

Weather the future with Victor Insurance Exchange. As specialists in catastrophe insurance, ICAT has the expertise to adapt and innovate today to protect our customers against the risks of tomorrow.

Victor Insurance Exchange

In this video you'll learn more about Victor Insurance Exchange, the surplus contribution, and how a reciprocal works.

So, what's a reciprocal insurance exchange?

A reciprocal insurance exchange is a common way to structure an insurance company. Traditional insurance companies are owned by shareholders, but in a reciprocal, the insurer is owned by policyholders — known as subscribers. The subscribers pool their money together to help absorb each other’s losses.

Victor Insurance Exchange is rated A- (Excellent) by AM Best, meaning you can rest assured your coverage will be there now and in the future.

The Exchange’s operations are managed by Victor Attorney-in-Fact (VAIF), which acts on its behalf, including entering into vendor contracts, approving all company action, and overseeing compliance with regulatory requirements.

What is the surplus contribution?

The subscriber pays their premiums annually, plus a little extra—known as the surplus contribution. The Surplus Contribution is not a fee—it goes directly to the Exchange to cover future claims, stabilize premiums, and help ensure the Exchange's long-term financial health. ICAT makes no money from this contribution.

What is the subscriber agreement?

When someone becomes a member of the Exchange, they are asked to sign a subscriber agreement. This agreement establishes the policyholder as a subscriber and a member of the exchange. The agreement appoints the “attorney in fact,” who is responsible for managing the Exchange’s operations. The agreement also explains key details, such as the surplus contribution, the Exchange's management structure, how disputes are handled and other legal terms. 

signing papers

Resources

Download our FAQ, Subscriber Agreement, and Attorney-in-fact agreement. 

Subscriber Agreement FAQs Attorney-in-fact Agreement

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Are you a broker or agent? Learn more about getting appointed with ICAT.

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