Exclusive: United Risk launches real estate deposit waiver insurance product and company Thriver

MGA United Risk has launched Thriver, a company and product of the same name, that is meant to address the real estate industry's need for a security deposit waiver.

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Thriver is headquartered in Rockefeller Plaza in New York.

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United Risk chief commercial officer Rick Christofer said Thriver will enable renters to pay a small cost of a traditional security deposit, which will alleviate high upfront move-in expenses that can burden lease signing while benefiting landlords by accelerating the renter sign-on process.

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"With our seasoned, professional leadership team headed by Matthew Mayberry, CEO, Thriver is engaging with distribution partners now focusing on the multifamily residential real estate market in the U.S., and will begin writing business in the fourth quarter of this year," he said.

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Mayberry said that a trend in municipalities like Georgia, Ohio, Alabama and California either enacting or proposing "renters' choice" laws requiring landlords to accept alternatives to traditional lump-sum security deposits, is a prime time for Thriver to launch.

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"We're ideally positioned to expand in this growing market, and by addressing both tenants' and landlords' needs, we are confident Thriver will be a game-changer in the rental market," Mayberry said.

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Last week, United Risk expanded its warranty and affinity business into Europe and the UK with the launch of Applied Affinity Underwriters.

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‍United Risk launches real estate deposit waiver insurance product and company Thriver

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