3 Trends Impacting the Flood Insurance Market
The exposure to flood losses has forced more residents and business owners to purchase flood insurance, while insurers are reevaluating the extent of their risks.
The exposure to flood losses has forced more residents and business owners to purchase flood insurance, while insurers are reevaluating the extent of their risks.
Despite the frequency of flooding, inflation and an uncertain economic outlook can make flood insurance a difficult sell.
FloodFlash aims to close the gap for businesses without flood coverage or that have coverage with large deductibles in place.
With changes in the frequency and severity of flooding events, opportunities are considerable for the continued evolution of the flood insurance market.
SageSure will offer comprehensive, full limits flood coverage so homeowners can fully protect their home and personal property under their home insurance policies.
Hurricane Ida demonstrated the new reality we’re facing: Storms are gaining strength and persistence, and they’re happening in unexpected places.
After a major flood, the results showed how Risk Rating 2.0 got the risk right.
Independent agents looking to provide flood insurance coverage for their clients must stay informed about the options, including those from the private market.
Flooding is the No. 1 natural peril in the U.S., but only about 15% of homeowners purchase flood insurance.
As carriers become increasingly comfortable with using sophisticated models to underwrite flood perils, agents are now in a better position to offer flood coverage options.