Rhino, the leading real estate technology company and pioneer of security deposit insurance, announced today its partnership with AmTrust Financial to provide an additional $60 million in premium-writing capacity for its core product offering. AmTrust Financial, an international property and casualty insurer, will join Rhino’s existing panel of industry-leading insurance carriers and reinsurers, bringing Rhino’s total premium-writing capacity to over $200 million.
Rhino’s partnership with AmTrust Financial will further enhance the company’s capacity to support the rapid growth and adoption of its innovative security deposit insurance solution and modernize the rental experience, making it easier and more efficient for both property owners and renters.
“We are excited to support Rhino in setting a new standard for the renting experience. Partnering with Rhino, the forerunner in security deposit insurance, is a natural fit for AmTrust’s customer-centric culture,” said Jeff Fenster, EVP and Head of AmTrust North American Specialty Risk.
“As the upfront cost of renting continues rising to unprecedented levels, renters are increasingly turning to innovative solutions, like security deposit insurance, to remove barriers to finding affordable, quality housing,” said Benjamin Lantos, Rhino Co-Founder and Chief Risk Officer. “Rhino’s partnership with AmTrust Financial will help a growing base of renters save money and give property owners the financial protections they need to operate sustainable businesses.”
Rhino hit a milestone earlier this year, announcing that its security deposit insurance was offered in more than 2 million homes, saving American renters more than $800 million in upfront move-in costs.
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