Accelerant National Insurance Company has filed to introduce its new Leap Lease Insurance Program in North Dakota. The filing was processed in SERFF on September 12, 2024, with a new business effective date of September 11, 2024.

The Leap Lease Insurance Program is a B2B product with two components: a Security Deposit Replacement and a Rent Guaranty. The first replaces a traditional security deposit for units that meet certain criteria, while the second serves as a guarantor for students in lieu of a cosigner for units that do not meet building requirements.

Program administration and marketing expenses for the underwriting entity are set at 25%. Flexibility is built into underwriting across states through a schedule rating plan, with credits and debits ranging from -15% to +50%. For example, Florida requires a minimum premium of $1,000; Georgia typically allows ±15% but extends to 40% debit and 50% credit in certain cases; and South Dakota caps individual category adjustments at ±25%.

Leap refers claimants to leapeasy.com/claim-form to file a claim. For claim-related questions, inquiries are directed to Claims@Leapeasy.com, while policy-related questions should be sent to Underwriting@Leapeasy.com.

The introduction of the Leap Lease Insurance Program underscores Accelerant’s expansion into Inland Marine offerings, providing flexible pricing tools tailored to state-specific requirements.