As more policyholders with Florida’s Citizens Property Insurance are statutorily required to purchase flood insurance, another insurance rate-quoting service has gotten in on the act. Officials with HoneyQuote.com announced Monday that the firm has started offering flood insurance quotes from …
Flooding from Hurricane Milton appears to have been more extensive than initially determined, affecting almost 185,000 buildings all across Florida, says a new analysis from ICEYE, a firm that uses satellite images to measure damage for the insurance industry. The …
Pennsylvania lawmakers should consider granting homeowners tax breaks for water damage expenses, mitigation and repair costs, and flood insurance premiums, according to a new state report. Those are several of the recommendations by a task force that studied ways to …
Wright National Flood Insurance Services introduced FocusFlood, the company’s newest product and an extension of its popular ResiFlood program, into Florida, Texas, New Jersey, South Carolina and Louisiana. Written on a non-admitted basis, FocusFlood is the latest proprietary private flood …
Hurricane Ian may result in one of the largest losses in the history of the National Flood Insurance Program and add to its current $20.5 billion debt. According to a market segment report from AM Best, the projected range of …
SageSure announced the introduction of a new admitted, proprietary residential flood program initially available in Texas. SageSure will distribute flood insurance through its network of contracted producers while also handling all servicing and claims. The company said the program will …
A new report estimates that U.S. businesses could spend about $13.5 billion in 2022 to repair or replace flood-damaged commercial buildings. The same report finds that businesses could lose more than 3.1 million days of operation from flooding next year. …
Digital flood insurance provider Neptune Flood has acquired Jumpstart Insurance Solutions, a parametric insurtech broker that offers parametric earthquake policies. Terms were not disclosed. Jumpstart, a licensed surplus lines insurance broker selling online and using Lloyd’s capacity, began offering earthquake …
The country’s flood insurance market is slowly transitioning toward private insurers providing additional options to the federal government’s program for those seeking coverage, according to a new AM Best report. But private sector carriers are being selective, tending to avoid …
HCI Group, Inc. announced that its insurtech subsidiary, TypTap Insurance Group, Inc., a Florida-based writer of private market homeowners and flood insurance, has confidentially submitted a draft registration statement for a proposed initial public offering with the Securities and Exchange …
