williamjones

Flood BI can cover many aspects of business interruption, including non-damage business interruption and denial of access.

The Neptune excess flood policy provides coverage above the maximum limit available through the National Flood Insurance Program (NFIP), allowing customers to keep their NFIP policy if they have yet to reach their market rate.

Brian Chapman, agent and owner of Chapman Insurance in Florida, sits down with Cassie Masone, vice president of flood operations at Selective Insurance.

As the climate changes, independent agents play a major role in educating their clients on the need to purchase flood insurance, as well as providing advice to them on the steps to take to protect their property.

The impact of recent disasters on consumers’ flood risk awareness is propelling growth in the private flood insurance market.

Neptune Flood has expanded flood coverage for residential, commercial and residential condominium building association policy (RCBAP) flood products into the Bluegrass State.

A carrier denied a client’s property damage claim because the water was “surface water.” The property had the standard ISO special perils form, as well as coverage on a sublimit for sewer and drain backup.

Here are six of the most common misconceptions the general public shares about flood coverage, which affect an agent’s ability to sell a flood policy.

“Both the NFIP and the private market will remain extremely important,” says independent agent Jeffrey Wyrsch. “We need to have both because they both offer advantages in different situations.”

Mandatory flood insurance purchase requirements have covered flood losses that would have otherwise been uninsured.