Ironshore’s Personal Lines unit has expanded property coverage protection for high net worth homeowners. Ironshore will offer a primary flood option as part of its homeowners insurance for properties valued at $1 million or more in selected states nationwide.
By providing coverage for both flood and wind, Ironshore provides homeowners with complete property coverage and a streamlined claims process in the aftermath of a weather event. Ironshore’s primary flood policy exceeds the coverage available under the National Flood Insurance Program (NFIP) and matches the government established limits of $250,000 on the building and $100,000 on contents, with the option of securing excess coverage. Ironshore flood coverage offers broader protection than the NFIP, with replacement cost as opposed to actual cash value on damaged contents and additional living expenses if the homeowner is displaced as a result of a flood.
Daniel Olmsted, vice president of Personal Lines for Ironshore says Ironshore’s coverage protection resulting from either a flood or wind event offers homeowners an advantage when seeking claims recovery and enables them to recover from property loss, regardless of whether the damage was caused by a flood or wind event.
Ironshore provides broker-sourced specialty property and casualty insurance coverages for varying risks on a global basis through its multiple international platforms.