Markets

By tailoring flood coverage to a client’s actual risk and financial exposure, agents ensure they have the protection they need without the unnecessary costs.

As flood risk becomes more complex and less tied to traditional flood maps, agents play a key role in helping customers understand their real exposure.

The product covers any economic losses resulting from fluvial, pluvial and coastal flooding, and offers rapid payouts triggered by pre‑set conditions.

The endorsement is designed for homes outside historical high-risk flood zones and provides coverage for damage from flood waters or surface waters.

Proactive conversations with clients about catastrophe risks can surface potential coverage gaps and open the door to more forward-looking planning.

Coral reefs, mangroves, salt marshes and seagrass meadows can significantly reduce flood losses in coastal areas, according to a Swiss Re Institute analysis of data.

As insurers increase their underwriting restrictions to limit storm exposures, risk mitigation is becoming more important than ever for commercial insureds.

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.

“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.”