Specialty insurance broker AmWINS Group has agreed to acquire The Flood Insurance Agency, a Florida-based managing general agency that specializes in private market flood insurance. Scott M. Purviance, chief executive officer of AmWINS Group, said the addition of The Flood …
It might be time for carriers and agents to encourage their clients to buy flood coverage even if they’re not living and working inside a flood zone. Such an action is long overdue, according to insurance commissioners from Florida, South …
Data analytics firm Verisk is touting the launch of WaterLine, an underwriting tool that scores flood risk for all properties in the contiguous United States, helping identify homes and businesses vulnerable to flood. The product scores properties on a 0-to-100 …
As I watch the daily tracking of Hurricane Florence and anticipate its potential destruction, I am compelled to revisit this June blog post and share it with you once again. In the words of Peter Criss, “I can’t stop the …
Less than 12 percent of U.S. homeowners have a flood insurance policy, despite the fact that flooding is the country’s most common natural disaster, said Katy Sivyer, underwriter for North America and the Caribbean at Hiscox Re & ILS, in …
The market for privately written inland flood insurance in the United States is growing rapidly, but flood modeling is still in its infancy. As a result, underwriters need to be aware of the differences that exist among commercial flood models, …
During 2017, the private flood insurance market expanded considerably with 50 new carriers. In total, insurers reported direct private flood insurance premiums written of $630 million, an increase of $217 million over 2016. That’s according to Insurance Journal’s Top Private …
California Insurance Commissioner Dave Jones has approved a new private flood insurance product The residential product, which Jones announced the approval of on Tuesday, is provided by American National Property and Casualty Co. The new entry into the private flood …
A digital startup private flood insurance provider, Neptune Flood, has secured $2 million in seed round funding and has plans to “aggressively expand” nationwide by offering its platform to carriers, agencies and mortgage lenders. Neptune’s Lloyd’s-backed residential product is currently …
With the National Flood Insurance Program (NFIP) currently set to expire on February 8, and many communities still recovering from this summer’s hurricanes, it’s no surprise that the 21st Century Flood Reform Act has passed the House and moved to …
