Professional Solutions Insurance Company has filed to introduce Recoop’s personal disaster insurance product in Connecticut.

The product provides a fixed cash benefit following a covered catastrophe and is designed to address expenses or coverage gaps not covered by traditional homeowners and renters insurance. Available limits range from $5,000 to $25,000.

To qualify for a payout, the insured must maintain a homeowners or renters policy, reside in a state- or federally declared disaster area and sustain more than $1,000 in property damage. Covered events include hurricanes, wildfires, tornadoes, earthquakes, winter storms, dust storms and gas explosions. Gas explosions do not require a disaster declaration.

Annual preferred rates range from $240 for $5,000 of coverage to $1,200 for $25,000. Standard rates range from $252 to $1,260. Preferred pricing is available to employees, members or customers of Recoop’s affinity partners.

The guaranteed-issue product will be available to homeowners and renters, excluding mobile and manufactured homes. Recoop primarily distributes coverage through employers, affinity groups, financial institutions and real estate partners, while also offering it directly to consumers.

The Connecticut filing, submitted July 20, remains pending and is based on a previously approved State National Insurance Company filing. Recoop’s product has already been filed or approved in more than 40 states and Washington, DC.