Verisk, a leading data analytics provider, has launched a new personal lines flood insurance program through its ISO business designed to make flood coverage
widely available to homeowners anywhere in the contiguous United States.
In any case, some flood coverage
is better than none
The actuarial rates charged for flood coverage
under the NFIP are not sufficient, and it's created a debt of about $25 billion.
Brokers will need to be more proactive educating the public about how flood coverage
The FTA Silver Award for line work showcased our ability to print flood coverage
with outstanding densities and coverage without defects," Schultz concluded.
The best practice is to assess your flood coverage
needs early and determine the best available rates before an incident occurs.
According to the plaintiffs, they instructed Alliance to obtain flood coverage
for the insured properties, which was added to the Travelers policy.
If you have a mortgage and you're in a flood zone, they're going to require that flood coverage
Homeowners should consult with their Trusted Choice[R] independent insurance agent to find out more about flood coverage
and other gaps in their insurance.
By offering flood coverage
at the point of the homeowner sale, in addition to offering protection to your clients from devastating losses, you're also helping to protect yourself from potential errors and omissions claims," said Brown.
But many property owners opted not to purchase the flood coverage
, political and public pressure often led to the federal government providing post-disaster relief, and some floods were simply mind-bogglingly large, producing wide-scale flood-related losses.
Steve Levy, president of Munich Re America's Reinsurance Division, said, 'Our innovation around flood coverage
is designed to address an underserved market, particularly given the increased risk of flooding due to more intense annual precipitation over the last decades.