Launched just over a year ago, Stand has grown rapidly, underwriting $1 billion in insured value in its first market, wildfire-prone California. The new funding will drive the company’s expansion into Florida, one of the most volatile catastrophe markets in the United States. According to the National Oceanic and Atmospheric Administration (NOAA), Florida has experienced 94 separate billion-dollar disasters since 1980, with the last seven events alone causing over $1 trillion in losses. The state’s insurer of last resort, Citizens Property Insurance Corporation, currently carries nearly $300 billion in exposure, underscoring both the scale of the challenge and the urgent need for sustainable private insurance capacity.
“Insurance should play a central role in creating resilient communities,” said Dan Preston, co-founder and CEO of Stand. “The scale of risk in Florida demands a new model that links coverage to hardening homes against windstorms. That is what Stand is building. By expanding into the largest catastrophe market in the country, we are working hard to make this a reality for property owners everywhere.”
Stand’s approach to insurance is based on the principle of resilience. The company links insurance coverage to mitigation upgrades, such as reinforcing homes against wind, fire, and flood damage. This enables homeowners to reduce their long-term risk while lowering costs. The firm’s underwriting process uses physics-based models, originally applied to wildfire risk and now extended to wind exposure, to provide a more precise understanding of how structures perform under extreme weather conditions.
In recent years, the United States has faced a sharp rise in catastrophic weather events, with weather-related damage averaging $146 billion per year over the past decade. At the same time, access to coverage has declined, as many major insurers have withdrawn from high-risk states or cancelled policies, leaving hundreds of thousands of homeowners without protection.
“Over the last 10 years, U.S. weather disasters have caused over $1.4 trillion in losses, with less than half insured,” said Aidan Madigan-Curtis, Partner at Eclipse and board director at Stand. “Rising costs and shrinking coverage are leaving American families exposed. Eclipse’s $30 million investment in Stand reflects our belief that resilience is the future, giving property owners the tools to safeguard their homes and their financial security.”
Stand’s leadership team is composed of insurance, technology, and applied science veterans, and the company is recognised for its strong claims management and customer service. With operations now active in both California and Florida, Stand is expanding its mission to protect homes in the world’s most catastrophe-prone regions, providing a new model of sustainable insurance that rewards resilience and prevention.
