flood coverage News

Carpenter Report Details Impact of 2004 & 2005 Hurricane Seasons

Guy Carpenter & Company released Part II of the two-part Ten-Year Retrospective of the 2004 and 2005 Atlantic Hurricane Seasons. Part II focuses on the 2005 hurricane season and the cumulative effects of both the 2004 and 2005 seasons on the …

Philadelphia Launches Commercial Excess Flood Coverage

Philadelphia Insurance Cos. (PHLY) is now offering commercial excess flood coverage to complement its commercial primary flood product. PHLY’s new excess coverage competitively priced and available at limits higher than the National Flood Insurance Program (NFIP) for businesses. Through PHLY’s …

Ironshore Personal Lines Launches Primary Flood Coverage for High Value Homes

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 …

Vertafore, StoneRiver Partnership Aims to Make Selling Flood Insurance Easier

Insurance software firm Vertafore has formed a partnership with flood insurance policy processing firm StoneRiver National Flood Services (NFS) to provide independent agents a new way to quote and cross-sell flood insurance when selling homeowners insurance. The partnership integrates NFS’s …

Homeowners Choice Sells First Flood Policy in Florida

Homeowners Choice Property & Casualty Insurance Co., Inc., a Florida based provider of admitted homeowners insurance and wholly-owned insurance subsidiary of HCI Group, Inc., is now selling flood insurance to existing customers in Florida. Many Florida residents have seen a …

Ironshore Personal Lines Unit to Offer Excess Flood Coverage

Ironshore’s Personal Lines unit is expanding flood insurance coverage for high net worth homeowner clients.  The excess flood insurance is an endorsement available on homeowners policies underwritten by Ironshore through its network of program administrators.  The coverage provides an excess …

After Sandy, Underwriters, CAT Models View Northeast Like Southeast: NAPCO

Superstorm Sandy may not have hardened the insurance market, but it has changed the way underwriters view the Northeast, a view that catastrophe models will reflect going forward. According to NAPCO’s Spring 2013 State of the Market Report, underwriters and …