Flood

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.

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.

Despite the frequency of flooding, inflation and an uncertain economic outlook can make flood insurance a difficult sell.

“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.”