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.
However, flood coverage
is available in the form of a separate policy both from the National Flood Insurance Program(NFIP) and from a few private insurers.
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.
Although only a few companies have begun writing primary flood coverage
in the United States, the possibility is now widely discussed and it is likely that more insurers will start writing private flood coverage
in the near future.
Keep in mind, notes Luck, that dance studio owners may be able to secure flood coverage
through a state or federal program like the National Flood Insurance Program.
Even with the added flood coverage
, where premiums have had major increases, we were able to create an insurance package that was a slight reduction in premium from the prior program.
The entrance of a private insurer in flood coverage
could prompt others to follow, Ruppar said.
3 trillion baht comprising windstorm coverage of 296 billion baht, earthquake coverage of 295 billion baht and flood coverage
of 64 billion baht.
The floods were the worst to hit Germany since 2002, and higher rates and deductibles are anticipated for flood coverage
For homeowners and businesses that do not have flood coverage
, sump pump failure coverage or sewer back-up coverage, ServiceMaster Restore by Zaba is offering for a limited time, a 10% discount for water damage restoration services.
Focus each time on a different element of loss: flooding, limitations to flood coverage
, lack of coordination between flood and wind damage, looting, rotting, loss of power, lack of water, extensive debris, clean-up, closed businesses, extensive need for repairs, shortage of contractors, fraud, rebuilding complications, and whatever else strikes you as significant results of a catastrophe.