Third Coast Reinsurance Llc

Organization Overview

Third Coast Reinsurance Llc is located in Covington, LA. According to its NTEE Classification (Y23) the organization is classified as: Mutual Insurance Companies & Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Third Coast Reinsurance Llc is a 501(c)(15) and as such, is described as a "Mutual Insurance Company or Association" by the IRS.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE AN OPTIMAL APPROACH TO SHIFTING AWAY FROM COMMERCIALLY PURCHASED COVERAGE UNTIL OVER TIME, THE CAPTIVE CAN PROVIDE A GREATER RESOURCE FOR PROPERTY COVERAGE

Describe the Organization's Program Activity:

Part 3 - Line 4a

THIRD COAST SUCCESSFULLY PROVIDED AFFORDABLE NAMED WIND STORM DEDUCTIBLE BUYDOWN COVERAGE FOR AT RISK COMMERICAL RENTAL PROPERTIES ALONG THE GULF COAST, MANY OF WHICH SERVE LOW INCOME AREAS. THESE COMMERCIAL RENTAL PROPERTIES HAD SIGNIFICANT ECONOMIC EXPOSURE DUE TO HIGH DEDUCTIBLES AND THIRD COAST PROVIDES A BACKSTOP TO LIMIT THE AMOUNT OF ECONOMIC DAMAGE EACH PROPERTY CAN SUSTAIN AND ALLOW THEM TO MAKE QUICK REPAIRS WHEN NEEDED AND SERVE ITS COMMUNITY.


IN REGARD TO RECOVERY EFFORTS, THIRD COAST COVERAGE SUPPORTS OUR ABILITY TO QUICKLY RESTORE PROPERTIES WITH DAMAGE TO PERMIT COMMERICAL ACTIVITIES TO RESUME QUICKLY AND RESUME EMPLOYMENT FOR TENANT BUSINESSES, WHILE MINIMIZING DOWNTIME FOR LOCAL EMPLOYERS.


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Board, Officers & Key Employees

Name (title)Compensation
Marty Mayer
President
$0
Grady Brame
Treasurer
$0
Patrick Malik
Secretary
$0
Jared Lauderdale
Board Member
$0
Michael Lebovitz
Board Member
$0
Jimmy Maurin
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$131,382
Investment income $10,707
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$5,554
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $136,535

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