November 5, 2018
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 …
October 23, 2018
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 …
September 9, 2018
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 …
July 25, 2018
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 …
July 24, 2018
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, …
July 3, 2018
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 …
March 6, 2018
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 …
January 25, 2018
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 …
January 25, 2018
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 …
January 11, 2018
Things just got a bit easier for private personal lines insurance carriers wanting to enter the flood insurance market. Through its ISO subsidiary, data analytics firm Verisk has launched a new personal lines flood insurance program that is designed to …