Company: SLDE
Filing Date: 2025-05-23
Form Type: S-1
Source: 0001193125-25-125836
Chunk: 164

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-05-23
Form: S-1
Chunk 164
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 Legislature in August 2002 as a not-for-profit, tax-exempt,government entity to provide property insurance to eligible Florida property owners unable to find insurance coverage in the private market. By definition, as an insurer of last resort for customers that cannot find coverage in the private market, the rates and coverage of Citizens’ policies are different from what a private insurer such as the Company would offer. Similarly, the rates and coverage are different from the terms the 120

policies assumed by the Company will have when they renew. All of the policies selected by the Company are annual policies which are rewritten at the Company’s rates using the Company’s coverage and forms within a year. Because it is a governmental entity and insurer of last resort in the state of Florida, the coverage offered by Citizens is more constrained than what the Company can offer by operation of Florida law, and therefore the loss experience of Citizens policies is vastly different to what the Company experiences. For example:

| • |     | The Company insures properties up to $10 million in coverage, whereas the maximum coverage for Citizens                                                                                                                                   
 policies is $700,000 for “Coverage A” (which, in the P&C insurance industry, refers to coverage of dwellings and physical structures) in the majority of Florida (with the exception of Miami-Dade and Monroe counties, where the maximum 
 is $1 million);                                                                                                                                                                                                                           |

| • |     | The Company offers personal liability insurance up to $500,000, whereas Citizens can only offer up to $100,000; |

| • |     | The Company offers medical payments coverage up to $5,000, whereas Citizens can only offer up to $2,000; |

| • |     | The Company can offer personal property coverage up to 75% of the fair value of the underlying asset, whereas 
 Citizen can only offer up to 50% of the fair value;                                                           |

| • |     | The Company can offer policies to homeowners in a flood zone and not require flood insurance, whereas Citizens                                                       
 requires flood insurance for any owner-occupied single-family homes and townhouses, as well as non-occupied rental properties located in a high-risk flood zone; and |

| • |     | The Company can offer coverage on screen enclosures (both frame and mesh), solar panels, animal liabilities,    
 equipment breakdowns and personal property, whereas Citizens does not offer any coverage for these liabilities. |

Changes in coverage affect both the net earned premium and the net loss ratio. As a result of coverage