What is Velocity?
Another prominent player in the insurance market is Velocity Risk Underwriters. Velocity is headquartered in Nashville, Tennessee. Like AmRisc, Velocity has crafted its own arbitration clause that requires Texas policyholders to travel, at their own cost, to its home turf – Nashville – to conduct arbitration unless Velocity agrees otherwise. And like the AmRisc program, the terms of Velocity’s arbitration provision do not depend on whether or not the policyholders and properties involved – or, for that matter the insurers – have any connection to Tennessee.