Flooding is the costliest — and the most common — natural disaster to significantly impact communities across the United States, The PEW Charitable Trusts notes in reporting on flood-prepared communities. Flood events have accounted for more than $850 billion in …
A Louisiana bill that would make it easier for private flood insurance carriers to offer flood insurance in the state has been sent back to the House to contemplate amendments added by the Senate. House Bill 577, by Rep. Scott …
TypTap, a five-year old Florida-based writer of private market homeowners and flood insurance, has attracted $100 million in financing from investment firm Centerbridge Partners. The company plans to use the money to expand nationally. TypTap said it has obtained regulatory …
The northeastern U.S. is one of the key areas of the country at risk for flooding, as evidenced by the billions in losses from Superstorm Sandy, which saw more than $8.1 billion in 144,000 NFIP (National Flood Insurance Program) claims. …
Neptune Flood has expanded its residential products to five more states – Montana, South Dakota, Utah, Vermont, Wyoming, and Washington, D.C., completing the company’s nationwide rollout of all residential, commercial and RCBAP flood insurance products. Neptune has also completed the …
Wright National Flood Insurance Services (WNFIS) has introduced two private flood insurance products for Virginia residential property owners – The Wright Residential Private Flood Insurance Program and Hiscox FloodPlus. The company now offers Hiscox FloodPlus in a dozen states and …
Tropical Storm Imelda landed on the Texas Gulf Coast on September 17, 2019. Over the three-day duration of the storm, 43 inches of rain saturated some locations, with nearly 30 inches falling over a 12-hour period. Some areas got hit …
An organization of state lawmakers is moving ahead toward adoption of a “model law” designed to encourage the sale of private flood insurance, even though insurers don’t think any new state laws are necessary and agents think the current draft …
A nudge into the market by carriers offering private flood insurance is becoming more of a shove, which might bring new opportunities for claims adjusters and maybe create a more efficient claims process along the way. An executive for Munich …
Not long ago, private flood insurance was thought to be an impossible dream in the property/casualty sector. There were numerous arguments supporting the common wisdom that a meaningful market for residential flood coverage from admitted private insurers would never exist. …
