Selective Insurance Group of Branchville, New Jersey announced that it has purchased the servicing rights to flood insurance policies issued by the troubled Highlands Insurance Group. (See IJ Website Dec. 10, 12)
Selective, which serves as “write your own” carrier for the federally insured National Flood Insurance Program (NFIP), acquired over additional 5200 policies with an estimated premium of $2.1 million. It now services more than 119,000 flood insurance policies through the NFIP with total premium in excess of $46 million.
Selective specializes in administration and claims management; notably for medical, health and risk management services. Its FloodConnect, LLC program handles administration and claims services through the NFIP, and has been endorsed as the flood insurance servicing carrier for the IIAA.
Topics Mergers & Acquisitions Flood
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