Flood Zone Correction Inc. (FZC), a flood zone correction company, has announced an alliance with Willis Group, one of three global insurance brokers. For a two-year term, Flood Zone Correction Inc. will provide flood zone correction services for U.S. real estate assets owned and operated by Willis clients.
Across the country, property owners purchase more than 4.4 million flood insurance policies through the National Flood Insurance Program (NFIP) at a cost of nearly $2 billion every year. Flood insurance requirements imposed by mortgage companies are the basis for the vast majority of these policies and premiums. The process of flood zone correction increases property values of
residential and commercial buildings by eliminating unwarranted flood
insurance requirements to reduce insurance costs.
For commercial real estate owners, successful flood zone correction reportedly delivers up to a 100% annual return on investment and up to a 1,600% return on investment at disposition or refinance by capitalizing the savings (new earnings).
“The Willis alliance is an important milestone in Flood Zone Correction, Inc.’s growth and we are excited to offer our proactive risk management service to their clients,” said Dan Freudenthal, president of Flood Zone Correction Inc. “The partnership is another example of Willis’ leadership in the risk management and insurance brokerage industry. Together, we will help Willis clients to more clearly define the true flood risk of their facilities, to correct flood zone classifications that are wrong, to reduce insurance premiums and to reduce exposure to flood losses.”
Brad Hart, senior vice president, Willis Risk Solutions, added, “Our
partnership with Flood Zone Correction, Inc., allows Willis to offer our
clients an innovative opportunity to better understand their flood risk to
ensure that they have the most appropriate coverage or risk mitigation
techniques in place. The alliance not only presents significant cost savings for our clients but also has the added benefit of increasing their net worth with the potential of increasing their real estate values.”
Was this article valuable?
Here are more articles you may enjoy.