Coastal American Insurance Rolls Out Private Flood Endorsement in Mississippi

Coastal American Insurance Co. has introduced a combined wind and flood insurance policy for policyholders in Mississippi. The new private flood endorsement is designed to eliminate disputes over concurrent causation, which often arise when storms hit coastal areas coverage according to Coastal American president Ned Dolese. The policy has also been approved in Alabama and will be rolled out in additional states as it is approved.

The WaterStreet Company, which provides operational and technical support for property and casualty insurance carriers across the U.S., worked with Coastal American to bring the endorsement online and develop functionalities for automating the underwriting and policy management process.

The WaterStreet system allows Coastal American to underwrite risk on the basis of specific elevation and distance to water. These factors enable an insured party to choose a combined wind-and-flood deductible and potentially reduce the policy’s cost.

Dolese said the coverage works as an alternative to the National Flood Insurance Program.

Headquartered in Gulfport, Miss., Coastal American Insurance Co. focuses on home insurance to Gulf Coast homeowners.

Topics Flood Mississippi