Torrent Technologies, a flood insurance technology and servicing company and part of Marsh, has formed an agreement with Palomar Specialty Insurance Co. to provide Torrent’s Write-Your-Own (WYO) carrier clients and their agents new, admitted private flood insurance options. Under the …
A.M. Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” of Wright National Flood Insurance Co. (WNFIC) in San Antonio, Texas. The outlook of these credit ratings (ratings) is stable. The …
Private insurance companies working for the government’s flood insurance program have made hundreds of millions of dollars at the same time that thousands of homeowners are claiming they have been underpaid for damage caused by Superstorm Sandy, according to a …
Utica First Insurance Company in Oriskany, New York, notified its independent agency partners last week that the company will withdraw from the Write Your Own (WYO) Program, a cooperative undertaking of the insurance industry and the Federal Emergency Management Agency’s …
National Flood Services, a division of Affinity Insurance Services, has introduced a line of private flood insurance products that will be delivered via the FloodChoice agent system. The new products offer options for consumers and insurance agents. According to John …
Following up on issues that were raised at the July 30 hearing on post-Sandy flood insurance claims, U.S. Sen. Robert Menendez (D-N.J.) sent a letter on Wednesday, Sept. 10, to Federal Emergency Management Agency’s (FEMA) Administrator Craig Fugate, urging him …
A U.S. Senate committee today conducted a hearing titled “The Flood Insurance Claims Process in Communities After Sandy: Lessons Learned and Potential Improvements,” where lawmakers had a chance to listen to the insurance industry’s lessons learned from Superstorm Sandy and …
A New Jersey federal court is seeking ways to expedite the litigation process for hundreds of flood insurance coverage-related cases that have been filed in wake of Superstorm Sandy. The U.S. District Court for the District of New Jersey announced …
The Travelers Companies said it plans to discontinue its participation as a Write-Your-Own (WYO) company in the National Flood Insurance Program. Travelers is selling its WYO policy renewal rights interest to American Bankers Insurance Company of Florida (ABIC), part of …
