New Paradigm President & CEO Evan M. Glassman spent the better part of his career as an insurance agent in South Florida. As both a diligent agent and an entrepreneur who was constantly seeking the best solutions for his clients' protection and risk transfer needs, Evan recognized that there was a tremendous difference between his clients' true needs to recover from hurricanes vs. the coverage provided by traditional insurance policies. Most of Evan’s clients were exposed to multi-million dollar out of pocket losses due to large deductibles and uninsured exposures, but really didn’t have a plan or in many cases the ability to fund these potential losses. Making matters even worse is the time period frequently associated with the traditional insurance claims process which often can be measured by months or years.
After realizing the solution his clients needed wasn’t available at that time in the insurance marketplace, he began working to create the solution. After a lengthy period of research the idea for Hurricane PM was formed. Evan approached one of his best friends, Bradley Meier, an accomplished insurance industry executive having founded Universal Property & Casualty Insurance Company and growing it into Florida’s largest (non-governmental) homeowner’s insurance company by policy count. The timing was fortuitous as Bradley was in the process of stepping down as the Chairman and CEO of Universal and ready for a new venture. Evan and Bradley formed New Paradigm in early 2013. After almost a year of development New Paradigm launched Hurricane PM Supplemental Hurricane Insurance in early 2014 with the first policies being sold shortly thereafter. Evan and Bradley are excited to be able to offer the marketplace risk transfer solutions designed to protect property and businesses from the likely losses caused by natural catastrophes.