MyStrongHome Launches Innovative Business to Use Reduced Insurance Premiums to Pay for New Fortified Roofs
New York, NY, May 30, 2017 (Newswire.com) –MyStrongHome, a first-of-its-kind benefit corporation that provides construction, financing and insurance services to homeowners in hurricane-prone areas of Alabama, Louisiana and South Carolina, announced it has closed $10M in financing and is now officially open for business. Financing was provided by impact investors including Prudential Insurance, the Greater New Orleans Foundation, the Calvert Foundation, the MacArthur Foundation, MetLife, Pi Investments and several individuals.
MyStrongHome helps homeowners manage the risk associated with increasingly frequent and severe weather, most notably hurricanes and other windstorm events. MyStrongHome delivers specialized construction upgrades, including installation of a new impact-resistant FORTIFIED roof. It finances the cost of that work with future insurance premium savings from a new, heavily discounted insurance policy through its insurance partners. Tax incentives and grant programs are also available in Alabama and South Carolina that further reduces the cost to homeowners.
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