Note 8. Related Party Transactions

Management Fee Revenue from Insurance Carriers

Other Technology Services

Policy Administration Services

The Company charges HCM a service fee for each new and renewed HCPCI flood policy issued outside of Florida. Policy administration services revenue and the related accounts receivable were immaterial for all periods presented. Such fees are typically settled within two weeks following the invoice date.

Related Party Service Agreements - Expenses

Agent Commissions

Under an agent commission agreement with Omega, a subsidiary of HCI, the Company pays commissions on premiums received in cash for policies issued by specific customers during the term of the agreement. Commission expenses pursuant to the agent commission agreement with Omega were $22 and $51 for the three and six months ended June 30, 2026, respectively, and $19 and $53 for the three and six months ended June 30, 2025, respectively. Such commission expenses were recorded within cost of revenue in the Consolidated Statements of Income. As of June 30, 2026 and December 31, 2025, commissions payable to Omega related to agent commissions were $6 and $12, respectively.

Claim Services

The Company receives field adjuster services from Griston Claim Services, Inc., a subsidiary of HCI, and generally pays a flat fee per claim handled. The Company also engages GCM, a subsidiary of HCI, to provide claims management services. Fees paid to GCM vary by program and claim type. For TTIC and Tailrow, the Company pays a per-claim fee for non-catastrophe claims, and a per-claim fee plus a percentage of incurred loss for catastrophe claims, including litigated claims. For CORE, the Company pays a per-claim fee plus a percentage of the amounts expended for indemnification for both catastrophe and non-catastrophe claims, including litigated claims.

As of June 30, 2026 and December 31, 2025, accounts payable related to claim services were $968 and $861, respectively, and are included in payable to related parties within the Consolidated Balance Sheets. These fees are typically settled in the month following the period in which the services are rendered.

Office Leases

The Company leases office space in Tampa, Florida, from Century Park Holdings, LLC, a subsidiary of HCI, under an agreement that commenced on January 1, 2023 and expires on December 31, 2032. The Company also leases office space in Ocala, Florida, from Silver Springs Property Investment, LLC, a subsidiary of HCI, under an agreement that commenced on January 1, 2022 and was originally scheduled to expire on December 31, 2024. On July 4, 2024, the Company exercised a renewal option extending the lease term through December 31, 2027.

For each of the three and six months ended June 30, 2026 and 2025, lease expense related to these agreements was $382 and $765, respectively. These expenses are included in cost of revenue and selling, general and administrative expenses in the Consolidated Statements of Income.

As of June 30, 2026 and December 31, 2025, there were no accounts payable outstanding related to these leases, as payments are due on the first day of each calendar month.

Corporate Cost Allocation

The Company provided corporate services to TTIC under a cost allocation agreement between Exzeo and its affiliates, amended effective July 1, 2025, to remove TTIC from the scope of the agreement. Following this amendment, the Company ceased providing corporate services to TTIC under the cost allocation agreement.

No expenses were allocated under this agreement during the three or six months ended June 30, 2026. Expenses allocated under this agreement during the three and six months ended June 30, 2025 were $921 and $1,746, respectively. Reimbursements received under the agreement are presented as a reduction in selling, general and administrative expenses within the Consolidated Statements of Income. All balances under this agreement were settled in 2025, and no amounts were outstanding as of June 30, 2026 or December 31, 2025.

Non-cash Capital Contributions

For the three and six months ended June 30, 2026, the Company recognized compensation expense related to HCI restricted stock held by certain Company employees of $4 and $8, respectively, in the Consolidated Statements of Income and as a non-cash capital contribution in the Consolidated Balance Sheets. For the three and six months ended June 30, 2025, the Company recognized compensation expense related to HCI restricted stock held by certain Company employees of $4 and $25, respectively, in the Consolidated Statements of Income and as a non-cash capital contribution in the Consolidated Balance Sheets. Refer to Note 12. Share-Based Compensation for additional details.