private flood insurance market News

South Carolina Passes Flood Insurance Law to Boost Private Market

The state of South Carolina is aiming to foster new flood insurance coverage options through the enactment of the South Carolina Private Flood Insurance Act. South Carolina Gov. Henry McMaster signed the legislation, passed Sept. 23 by state lawmakers, into …

AXA XL Partners with Insurtech Neptune Flood to Expand Private Flood Insurance

AXA XL is partnering with digital private flood insurance program manager Neptune Flood in a strategic underwriting partnership that will more than double Neptune’s capacity across the country. According to CEO Jim Albert, the new partnership doesn’t change Neptune’s core …

Tennessee Insurance Head McPeak Talks Leading NAIC, Priorities Under New Gov

Tennessee Insurance Commissioner Julie Mix McPeak’s tenure as president of the National Association of Insurance Commissioners (NAIC) may have come to an end, but her work as an insurance regulator will continue for some time thanks to her recent reappointment …

Opinion: Is Florida’s Flood Insurance Industry Really Prepared?

The clock is ticking: The National Flood Insurance Program expires on July 31, 2018; so what happens next? It is well documented that the NFIP is broken and has been in disarray for a long time. The NFIP’s primary deficiency …

As Congress Eyes Flood Insurance Renewal, Private Markets Get Ready

Unleashing the invisible hand that has been missing from the flood insurance market for nearly 50 years is no easy task. But private flood insurance experts say the change would be a good thing not only for private flood insurers …

New Flood Insurance Product For Florida Homeowners Available from American Integrity

American Integrity Insurance Group (AI), a Florida-based insurance provider, has unveiled a private flood insurance option for homeowners. AI is one of nine Florida-based insurers to offer its own flood program that includes a Florida Office of Insurance Regulation (FOIR) …

NAIC Drafts Changes for NFIP, Encourages Long-Term Reauthorization

The National Association of Insurance Commissioners (NAIC) has released its recommendations for changes to the National Flood Insurance Program (NFIP) when it goes up before Congress for reauthorization next year. The current NFIP is due to expire on Sept. 30, …

North Carolina Tackles Insurance Rate Evasion Fraud, Updates Captive Laws

North Carolina has made several changes encompassing fraud, captives and flood insurance regulations to its state insurance laws. New legislation, House Bill 287, was approved June 30 by state lawmakers and signed into law July 6 by Gov. Pat McCrory. …